Source Pravda.Ru

Detroit may try to prosper with Christie's help

 

According to auction house Christie's, the now bankrupt city of Detroit owns artwork totaling 866 million dollars.

The collection of the Detroit Institute of Arts includes Diego Rivera's "Detroit Industry" murals, created in the 1930s. The collection also includes a large number of Egyptian statues, a painting by Caravaggio, "Martha and Mary Magdalene" from 1598 and the bronze "The Thinker" by Auguste Rodin.

Judge Stephen Rodds, who is in charge of the city's bankruptcy case, said that the sale of the above-mentioned assets would have had no impact on the financial position of the city in the long term. However, the city can profit from art objects, using them as collateral for loans or leasing them to other museums.