After filing for bankruptcy last month, the city of Detroit has hired the international auction house Christie’s to appraise a portion of its city-owned art collection, which is housed in the Detroit Institute of Arts. City officials have not yet decided if they will sell any works in an attempt to quell creditors.
Rumors about the fate of the D.I.A.’s illustrious collection circulated quickly after representatives from Christie's visited the museum this past June. The auction house confirmed on Monday, August 5, 2013 that they have been hired to appraise the D.I.A.’s holding but did not specify which portion of the collection they would be evaluating. The auction house said in a statement, “Christie’s was asked to assist due to our expertise in this area across all fine art categories and eras. We understand that a valuation of all the City’s assets (extending well beyond the art) is one of many steps that will be necessary for the legal system to reach a conclusion about the best long term solution for the citizens of Detroit.”
The office of Detroit emergency manager Kevyn Orr will pay for the appraisal, which will cost $200,000 and is expected to wrap up in October. Christie’s will only appraise works of art that are city-owned and are not subject to donor restrictions that could prevent a possible sale.
