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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsDetroit's Massive Art Collection Could Be Worth $867 Million
DETROIT (AP) The fair market values of some of the most popular pieces in the Detroit Institute of Arts including Bruegel the Elder's "The Wedding Dance" and a Van Gogh self-portrait have been released.
Christie's auction house appraised about 2,800 paintings, sculptures, pottery and other city-owned artwork at the city's request. The list of the items and how much each would fetch at sale were released Thursday by the city.
"The Wedding Dance" is valued at $100 million to $200 million, while Van Gogh's "Self Portrait with Straw Hat" was given a price tag of between $80 million and $150 million.
Read more: http://www.businessinsider.com/detroit-art-collection-could-be-worth-867-million-2013-12
TexasProgresive
(12,157 posts)to private collectors and put it out of reach of the rest of us?
MannyGoldstein
(34,589 posts)@#$^ you.
Go sell a kidney or something.
Regards,
The Predator Class
FarCenter
(19,429 posts)They have 60 thousand + pieces, so only a small percent is on display. The rest of the collection is probably available to scholars with the right credentials.
"out of reach" is a relative thing.
TexasProgresive
(12,157 posts)pa28
(6,145 posts)The DIA will be there but the people of Detroit will no longer own it.
Doremus
(7,261 posts)A year, five?
Wait for it.
pa28
(6,145 posts)I'm sure people will say "what's the difference the art is still there and still on display".
The difference is that the public commons has been privatized. What once belonged to the people of the city can now be used as collateral by the purchasing foundations, moved, loaned out, toured or maybe broken up and sold later on.
For anybody who does not believe it can happen check out the story of the Barnes Foundation and the "transfer" of $20 Billion worth of art.
http://deyanbrashich.com/storage/Art-of-the-Heist.pdf
gollygee
(22,336 posts)and none to the retired firefighters and other pensions.
dipsydoodle
(42,239 posts)as a condition of being gifted by will in the first place.
FarCenter
(19,429 posts)The 1920s were a good time to buy, and Detroit was flush with automobile money.
former9thward
(32,066 posts)Bankruptcy wipes out all contracts.
dipsydoodle
(42,239 posts)Family members could contest this particular issue.
former9thward
(32,066 posts)All of the terms of the contract are voided in bankruptcy. In terms of specific duties there is no judge more powerful in the federal court system than a bankruptcy judge. I believe any family members would be wasting their time.
Demo_Chris
(6,234 posts)The city is desperately in need of some cash if they are going to get back up on their feet.
Pretzel_Warrior
(8,361 posts)This is the first very tangible sign the 1%ers who are Republican/Conservative ruling class won't stop until they've got it all or until someone FORCIBLY stops them.
Demo_Chris
(6,234 posts)And since there is apparently not enough tax money there to buy them, what else is there to do?
Scuba
(53,475 posts)HereSince1628
(36,063 posts)There may be some other institutions that get into the fray, but most of it will transfer to private hands...
who if we are lucky put the works on loan to public museums
etherealtruth
(22,165 posts)This saddens me greatly and deeply sickens me
Pretzel_Warrior
(8,361 posts)Taking away such fine art from the downtrodden city would add immense insult to already near-mortal injury.
Fucking privateers.