Detroit art could be sold at bankruptcy auction

If Detroit files for bankruptcy relief, the art held by the Detroit Institute of the Arts could be sold at bankruptcy auction to pay off the city’s debt. In addition to pieces by Van Gogh and Rembrandt, the art institute has a statute of Rodin’s The Thinker and other famous pieces. Kevyn Orr, the state appointed emergency manager for Detroit, requested an appraisal from the museum. The estimated value of the artwork is thought to be $15 billion. The museum is already looking into ways to stop a bankruptcy auction.

For more read, “In Bankruptcy, Detroit Could Sell Off Its Art Collection.”

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