Detroit's DIA art valued between $454-$867 million - Los Angeles News | FOX 11 LA KTTV

Detroit's DIA art valued between $454-$867 million

Posted: Updated:

DETROIT (AP) -- Christie's auction house has completed its final report on the value of about 2,800 city-owned pieces in the Detroit Institute of Arts.

New York-based Christie's says the report was delivered Wednesday to Detroit emergency manager Kevyn Orr and that the art is valued between $454 million and $867 million, which is slightly higher than a preliminary report.

Christie's also has proposed possible ways in which the city may be able to avoid selling the art as it goes through the largest municipal bankruptcy in U.S. history.

An area philanthropist has said he will donate $5 million to help offset expected losses by city pensioners. A mediator between Detroit and its creditors has asked foundations to raise $500 million to keep the artwork from being sold.

  • Download the FOX 2 Apps


  • FOX 2 News Five-Day Forecast
Powered by WorldNow

KTTV FOX 11
1999 S. Bundy Dr.
Los Angeles CA 90025

Main: (310) 584-2000
News Tips? (310) 584-2025

Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | Terms of Service | Ad Choices