The Detroit Institute of Arts is a national treasure. Back when Detroit was the Motor City (1920-1930), the museum was well endowed and it built up a world class collection.
Now, after 60 years of Democratic and Union rule, the vultures are circling overhead.
From the Detroit Free Press:
Christie's appraisal will reveal value of Detroit Institute of Arts' collectionI really hope that the politicians recognize this collection for what it is and not look at it as a pile of other people's money than can be grabbed and spent. A collection this great cannot be brought back together if broken and many pieces will disappear into private hands never to be seen and enjoyed by the general (taxpaying) public. The political masterminds are trying like hell to avoid bankruptcy because then, old contracts are tossed out and everything is re-negotiated. The Unions and Pension holders do not want this but they are the people responsible for killing this fatted calf. Union demands raised the price of domestic automobiles such that the American public voted with their wallets and started buying Honda's and Toyota's. I needed a new truck four years ago and specifically sought out a Ford because Ford was the only domestic manufacturer that did not accept a Government bailout. I was a 30 year Chevy owner before then.
Art museums treat estimated values of their art like state secrets. In fact, major museums such as the Detroit Institute of Arts don�t even know precisely what all of their multimillion-dollar treasures are worth.
That is about to change in Detroit.
When officials from the New York-based Christie�s auction house finish formally appraising city-owned works at the DIA this fall, the results will open an unprecedented public window into the market value of thousands of artworks at a top American museum. The enormity of the final tally, which is expected to be in the billions, promises to add urgency to the debate over whether the city should sell art to help pay its bills in municipal bankruptcy.
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