Posts Tagged ‘ Detroit’s Bankruptcy ’

Visitors walk past Breughel's 'Wedding Dance' in the Detroit Intitute of Art

Should Detroit sell off its art?

Feb 11th, 2014 | By

  The City of Detroit is bust.  Selling off its exceptional hoard of art treasures could fix it – but not without complicated and legal consequences.   Ivan Lindsay, The Good Life/ Art, Spears WMS Magazine, Issue No. 35, December 2013.         ON 18 JULY, Detroit filed for Chapter 9 bankruptcy, seeking
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Visitors walking past 'The Wedding Dance' by Peter Breughel the Elder in the Detroit Institute of Arts

Christie’s completes initial Detroit valuation

Dec 21st, 2013 | By

  Christie’s has announced its valuation of the 2,800 artworks from the Detroit institute of Arts.  They believe they are worth between $454 million and $867 million. Christie’s spent three months determining the collection’s fair market value after Detroit filed for bankruptcy last summer. Its findings were submitted in the long-awaited report to Detroit’s state-appointed emergency
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A visitor in front of Breughel's The Wedding Dance at the Detroit Museum.

Detroit’s Art Collection may be sold

Jul 24th, 2013 | By

The sharks have already started to circle Detroit’s Art Collection following the City’s recent bankruptcy.  The billion dollar art collection, one of the ten most important museum collections in North America, and containing around 60,000 artworks, is apparently on the table as a possible partial solution for the city’s creditors.  However, a sale of such
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