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Fri May 24, 2013, 06:06 AM

 

DIA's art collection could face sell-off to satisfy Detroit's creditors

http://www.freep.com/article/20130523/NEWS01/305230154/DIA-Kevyn-Orr-Detroit-bankruptcy-art

The once unthinkable is suddenly thinkable.

Detroit emergency manager Kevyn Orr is considering whether the multibillion-dollar collection at the Detroit Institute of Arts should be considered city assets that potentially could be sold to cover about $15 billion in debt.

How much is the art at the DIA worth? Nobody knows exactly, but several billion dollars might well be a low estimate.

Even the possibility has set off a sharp reaction. The DIA hired a bankruptcy lawyer to advise it, and philanthropist and DIA patron A. Alfred Taubman said this evening that it would be a crime to sell any of the DIAs collection to satisfy city creditors.

Im sure Mr. Orr, once he thinks about it, will certainly not choose that as one of the assets, Taubman said. Its not just an asset of Detroit. Its an asset of the country.

11 replies, 1833 views

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Reply DIA's art collection could face sell-off to satisfy Detroit's creditors (Original post)
East Coast Pirate May 2013 OP
Demeter May 2013 #1
liberal N proud May 2013 #2
mopinko May 2013 #5
pmorlan1 May 2013 #7
Hestia May 2013 #8
liberal N proud May 2013 #9
Ninga May 2013 #3
Freethinker65 May 2013 #4
beerandjesus May 2013 #6
tartan2 May 2013 #10
HooptieWagon May 2013 #11

Response to East Coast Pirate (Original post)

Fri May 24, 2013, 06:14 AM

1. What a crook

 

THAT'S his solution? Throw the bum out!

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Response to East Coast Pirate (Original post)

Fri May 24, 2013, 06:15 AM

2. First thought - is this some rich fuckers taking advantage?

They see a chance to get a prized piece in the collection?

I am cynical of such actions because the way I see it, some rich asshole has their eye on some prize painting or sculpture and with a little help from someone who gets paid to do this, they will be able to pry the prize from a public collection and snatch it away to a private collection.

Here are some of the artist featured:
The collection of American art at the DIA is one of the most impressive, and officials at the DIA have ranked the American paintings collection third among museums in the United States. Works by American artists began to be collected immediately following the museum's founding in 1883. Today the collection is a strong survey of American history, with acknowledged masterpieces of painting, sculpture, furniture and decorative arts from the 18th century, 19th century, and 20th century, with contemporary American art in all media also being collected. The breadth of the collection includes such American artists as John James Audubon, George Bellows, George Caleb Bingham, Alexander Calder, Mary Cassatt, Dale Chihuly, Frederic Edwin Church, Thomas Cole, John Singleton Copley, Leon Dabo, Thomas Wilmer Dewing, Thomas Eakins, Childe Hassam, Robert Henri, Winslow Homer, George Inness, Georgia O'Keeffe, Charles Willson Peale, Rembrandt Peale, Tom Phardel, Duncan Phyfe, Hiram Powers, Sharon Que, Frederic Remington, Paul Revere, Augustus Saint-Gaudens, John Singer Sargent, John French Sloan, Tony Smith, Marylyn Dintenfass, Gilbert Stuart, Yves Tanguy, Henry Ossawa Tanner, Louis Comfort Tiffany, Andy Warhol, William T. Williams, Anne Wilson, Andrew Wyeth, and James McNeill Whistler.



http://www.dia.org/

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Response to liberal N proud (Reply #2)

Fri May 24, 2013, 08:44 AM

5. i'm not usually that cynical, but

in this case, experience in the art world compels me to make an exception.

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Response to liberal N proud (Reply #2)

Fri May 24, 2013, 12:08 PM

7. Yup

That was exactly my first thought too.

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Response to liberal N proud (Reply #2)

Fri May 24, 2013, 12:55 PM

8. I don't think you are far off the mark. Wouldn't be surprising at all, would it?

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Response to Hestia (Reply #8)

Fri May 24, 2013, 01:19 PM

9. When it comes to selling public trusts, Greed is ever present.

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Response to East Coast Pirate (Original post)

Fri May 24, 2013, 06:27 AM

3. WHAT!!! Unbelievablely sad.

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Response to East Coast Pirate (Original post)

Fri May 24, 2013, 06:38 AM

4. " You gotta have art "

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Response to East Coast Pirate (Original post)

Fri May 24, 2013, 09:36 AM

6. Don't worry, the baggers will protect us--after all, that's why they keep all those guns around.

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Response to East Coast Pirate (Original post)

Fri May 24, 2013, 04:31 PM

10. In my mind the DIA and all it's art

belong to the citizens of Detroit, of Michigan and the country.

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Response to East Coast Pirate (Original post)

Sat May 25, 2013, 12:03 AM

11. I doubt the art was bought with tax dollars.

 

Probably bought with donations and proceeds from endowments. I think this would make it illegal to sell to satisfy city debt.

Now, if the Art Institute itself was in debt, they could sell assets to pay off the debt.

IOW, most likely the City of Detroit and the Art Institute are two separate entities. Even if some of the city budget went towards operational funding, the assets are separate. Can no more sell the art than they can sell the Lions, Tigers, Pistons, or Redwings.

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