The long-disputed valuation of the Detroit Institute of Arts’ collection has finally been completed, with a final valuation that falls somewhere between $454 million to $867 million.  This valuation factors in a Van Gogh self-portrait valued at $150 million on its own, as well as a Bruegel the Elder painting that could sell for anywhere between $100 and $200 million.  (more…)

The Detroit Free Press reports that city emergency manager Kevyn Orr has contracted Christie’s to appraise a portion of the Detroit Institute of Arts‘ city-owned collection.  While some have taken this as a further step in the potential selloff of much of the DIA’s collection, Orr himself spoke out on the contrary: “There has never been, nor is there now, any plan to sell art. This valuation, as well as the valuation of other City assets, is an integral part of the restructuring process. It is a step the city must take to reach resolutions with its creditors and secure a viable, strong future for Detroit and its residents.” (more…)