Spotlight falls on artworks in Detroit’s search for sellable assets
Nikhil Kumar is The Independent's New York correspondent. He was formerly assistant editor on the foreign desk and has also done a variety of jobs on the city desk, where he wrote about markets, commodities and other business and economics topics.
Friday 19 July 2013
As Detroit goes down what could be a painful path to resolve its debts, attention has turned to the city assets that might be sold off to raise much-needed funds, including the valuable paintings and other objects that are part of the collection of the Detroit Institute of Arts.
Founded in 1885, the DIA’s collection includes an array of renowned works, including Bruegel’s The Wedding Dance and Caravaggio’s The Conversion of the Magdalen.
Owned by the city, questions have been raised about the possiblity of selling some of its holdings to help fund Detroit. Although the city’s emergency manager, Kevyn Orr, yesterday stressed that right now nothing was for sale, some have suggested that works from the collection should be sold to help city finances.
Other assets that might be sold off are the city zoo and the Belle Isle park.
But the director of the DIA, Graham Beal, said he doubted if the city could sell works from the art collection. He cited a recent opinion from the Michigan Attorney General Bill Schuette, in which he said that the collection is “held by the City of Detroit in charitable trust for the people of Michigan, and no piece in the collection may thus be sold, conveyed, or transferred to satisfy city debts or obligation.”
- 1 Forget 'The Dress': Here are five of the biggest news stories you might have missed
- 2 The black and blue dress: Makers considering a white and gold version
- 3 Prince Harry leaving the armed forced to pursue conservation projects in Africa
- 4 PornHub turns masturbation into energy in bid to save the planet
Boris Nemtsov shot dead: Outspoken Putin critic who had expressed fears for his life is killed near the Kremlin
Leonard Nimoy dead: Star Trek Spock actor dies after suffering lung disease
PornHub turns masturbation into energy in bid to save the planet
Ukraine crisis: Top Chinese diplomat backs Putin, says West should 'abandon zero-sum mentality'
White and gold or blue and black – what colour is the dress? An eyewitness gives a definitive answer
New theory could prove how life began and disprove God
Half of Ukip voters say they are prejudiced against people of other races
'Cash for access' scandal: Sir Malcolm Rifkind says 'unrealistic' for MPs to live on £67,000 salary
This is what it's like to be dead, according to a guy who died for a bit
'Jihadi John': CAGE representative storms off Sky News accusing Kay Burley of Islamophobia
Aqsa Mahmood branded a 'disgrace' by her parents after claims she recruited three UK girls flying to Middle East
Excellent Salary: Austen Lloyd: EXETER - A great new opportunity with real pot...
Excellent Salary: Austen Lloyd: EXETER - An outstanding senior opportunity for...
salary equal to £40K pro-rata: Sauce Recruitment: Are you available to start a...
£35000 - £40000 per annum: Ashdown Group: Creative Front-End Developer - Claph...