Art Investment

Detroit masterpieces protect a donation of 330 million dollars

Sponsors of the Art Institute of Detroit pledged $ 330 million in favor of the city bankrupt. Money will go to pension payments to citizens. This will help protect from the sale of paintings by Van Gogh, Bruegel and other artists

Works by Van Gogh exhibition in the Institute of Arts Detroit

Source : bloomberg.com

Sponsors Detroit Institute of Arts pledged $ 330 million in favor of the city bankrupt . Detroit District Court stated that it will help protect against the possible sale of the outstanding art collection of the Institute , which includes masterpieces by Van Gogh, Pieter Bruegel the Elder , Henri Matisse and other artists. Donors want $ 330 million went to the pension payments that may fall out of debt as much as $ 3.5 billion .

Recall that the city of Detroit is declared bankrupt , its internal and external debt reached $ 18 billion . Summer 2013 crisis manager Kevin Orr city considered the possibility of the sale of art , municipally owned . This, for example, " Portrait of the Postman Roulin " by Van Gogh, " Wedding Dance " by Pieter Bruegel the Elder and "Madonna and Child " by Giovanni Bellini . However, against the sale were not only a museum and citizens , but also patrons .

donation of 330 million dollars looks promising , but the manager Kevin Orr planned to collect sponsors with an even greater amount - up to 500 million. Art Collection of the Art Institute of Detroit ( 3 of those thousands of jobs that were once bought with the money of the city ) was recently evaluated Christie's auction house in the amount of 452 to 866 million dollars .

prepared by Mary Onuchina , AI

Sources : bloomberg.com , artinvestment.ru


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