What's the DIA's collection worth? We now have an idea. 

Jean Siméon Chardin's "Still Life with Dead Hare" (c. 1760) could be worth between $5 and 7 million.

Earlier this week, New York-based auction house Christie's Appraisals turned in a 150-page report regarding the value of the Detroit Institute of Art's collection. The report, requested by emergency financial manager Kevyn Orr as part of Detroit's bankruptcy procedure, estimated that about 2,800 works bought with city funds could value between $454 million to $867 million, the Free Press reports. These works of art represent a mere 5% of the DIA's total collection.

U.S. Bankruptcy Judge Steven Rhodes cannot compel the sale of the art. Orr can, however. He has said previously that he expects the DIA to contribute $500 million to repaying Detroit's debts. However, some experts doubt the the art could earn that much given that this would essentially be a forced sale as well as a negative P.R. move on behalf of the buyer.

“This evaluation didn’t take place in a fair-market value situation,” Beverly Schreiber Jacobym president of BSJ Fine Art in New York told the Free Press. “It’s a liquidation.”

Below, check out an ad for the DIA from the '70s.

We welcome readers to submit letters regarding articles and content in Detroit Metro Times. Letters should be a minimum of 150 words, refer to content that has appeared on Detroit Metro Times, and must include the writer's full name, address, and phone number for verification purposes. No attachments will be considered. Writers of letters selected for publication will be notified via email. Letters may be edited and shortened for space.

Email us at [email protected].

Support Local Journalism.
Join the Detroit Metro Times Press Club

Local journalism is information. Information is power. And we believe everyone deserves access to accurate independent coverage of their community and state. Our readers helped us continue this coverage in 2020, and we are so grateful for the support.

Help us keep this coverage going in 2021. Whether it's a one-time acknowledgement of this article or an ongoing membership pledge, your support goes to local-based reporting from our small but mighty team.

Join the Metro Times Press Club for as little as $5 a month.

Read the Digital Print Issue

January 26, 2022

View more issues


Never miss a beat

Sign Up Now

Subscribe now to get the latest news delivered right to your inbox.

Best Things to Do In Detroit

© 2022 Detroit Metro Times - Contact Us

Website powered by Foundation