2013 : Treasures of the Detroit Institute of Arts Listed

When:
December 19, 2018 all-day
2018-12-19T00:00:00-05:00
2018-12-20T00:00:00-05:00

When Detroit declared bankruptcy on July 18, 2013, many of its debt holders wanted the city to sell treasured holdings of the Detroit Institute of Arts to cover its debts.

Attached is the final report to Detroit Emergency Manager Kevyn Orr on the value of the city-purchased art at the Detroit Institute of Arts.

In its final appraisal of city-purchased art at the Detroit Institute of Arts, Christie’s Appraisals Inc. noted that 11 pieces account for bulk of the value of the nearly 2,800 city-purchased works of art it appraised.

The top 11 pieces that could command the bulk of that amount, according to Christie’s are:

  • Pieter Bruegel the Elder, The Wedding Dance – $100 million-$200 million
  • Vincent van Gogh, Self Portrait with Straw Hat – $80 million-$150 million
  • Rembrandt, The Visitation – $50 million-$90 million
  • Henri Matisse, Le guéridon – $40 million-$80 million
  • Edgar Degas, Danseuses au foyer (La Contrebasse) – $20 million-$40 million
  • Claude Monet, Gladioli – $12 million-$20 million
  • Michelangelo, Scheme for the decoration of the ceiling of the Sistine Chapel (recto and verso) – $12 million-$20 million
  • Neri Di Bicci, The Palla Altarpiece: Tobias and Three Archangels – $8 million-$15 million
  • Giovanni Bellini and Workshop, Madonna and Child – $4 million-$10 million
  • Frans Hals, Portrait of Hendrik Swalmius – $6 million-$10 million
  • Michiel Sweerts, In the Studio – $5 million-$10 million.

The full report is available here

Source: Sherri Welch, “The 11 most-valued pieces of city-purchased art at the DIA“, Crain’s Detroit Business, December 19, 2013.

The Detroit Institute of Art was the first museum in America to acquire and display a Van Gogh (his “Self Portrait in a Straw Hat” pictured below), purchased at auction for $4,200. (That same year the DIA also purchased the first Matisse, “The Window,” to be displayed in the States also pictured below.)

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