Detroit Creditors Push for Valuation of Museum Collection

Christie’s has been appraising the 60,000 pieces of artwork of the museum due to the City bankruptcy. The appraisal is scheduled to be done in December. Last week, some of Detroit’s creditors filed court documents and asked for a separate group in order to get the most out of any potential sale of the artwork. The art held by Detroit Institute of Art is held in “public trust” and cannot be sold. Christie’s is expected to provide alternatives other than selling them. Renting out some pieces to taking out loans is one of the options.

—Antique News
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