Delays Push Back Deadline for Christie’s Appraisal of the Detroit Institute of Arts Collection

by Corinna Kirsch on November 22, 2013 · 0 comments Newswire

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The wait continues for the Detroit Institute of Arts. As early as June of this year, Christie’s auction house was hired—for $200,000—to evaluate the monetary value of works in the museum’s collection. Though the procedure was meant to be wrapped up by October or November, the finalization of the auction house’s report will not be released until mid-December. According to the Detroit Free Press, the auction house has two more visits scheduled at the museum, on December 9 and 10.

Throughout the evaluations, DIA has remained a sitting duck to the work performed by Christie’s. In October, Annmarie Erickson, DIA’s executive vice president and chief operating officer, told Crain’s that the museum had yet to know the details of the city’s contract with Christie’s.  “We have asked to see the Christie’s contract with the city,” Erickson said, “and they have not shared it with us.” Detroit emergency manager Kevyn Orr, who oversees the city’s bankruptcy filings, has yet to meet with DIA officials.

Orr has continually stated that the city has no plans of selling the artworks as assets, and will beneficial to negotiations between the city’s creditors and a settlement plan the city will eventually submit in court. The city has asked Christie’s to suggest how to monetize DIA’s collection for these purposes in lieu of a sale.

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