Detroit bankruptcy creditors ask judge to take steps toward sale of DIA treasures

Dont Taz Me Bro

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No, they are talking about "investigating the sale" of some of the assets.

It is a fairly complex proposition. Many of the assets in question were given to the museum with the proviso that they always remain there, or some such restrictions. Whether they could be sold outright for cash may be questionable. Also, in many cases, the artworks could be sold, but remain at the DIA for public display, so it wouldn't have a serious impact to the visiting public.

As I recall, the bankruptcy filing itself is still in dispute, as certain creditors (mainly employees and retirees) are fighting it. Is the trustee legally authorized to file for B'ruptcy? Have they overstated their debts? And so on.

Selling fine art is a risky proposition. There is no NADA book, and the fact that they are being sold at all can negatively impact their value and the market in general. Art investors may shy away from it, due to the circumstances.
 
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