Thomson ReutersJune 19, 2013 19:33
A drop in the bucket? Christie's appraises Detroit's art
DETROIT (Reuters) - The auction house Christie's put a price tag on one of Detroit's highest-profile city assets, its share of the Detroit Institute of Arts collection, stating that nearly 3,000 works controlled by the city are worth between $452 million and $866 million. The finding by Christie's, hired to place a value on art treasures that could become a contested element of the Detroit bankruptcy, puts a range of value on 2,781 works owned or partially owned by the city.