NBC News has the details from Christie’sDIA appraisal:
On Wednesday, the revered auction house Christie’s said it has appraised some of the Detroit Institute of Arts’ collection and said the works had a fair market value of $452 million to $866 million. It also suggested five alternatives to selling, which would allow the city to benefit financially, while keeping the DIA collection intact. […]
Christie’s only appraised 2,781 pieces, purchased with city funds and representing less than 5 percent of the institute’s total collection, which includes masterpieces by Bruegel, van Gogh and Cézanne.
The alternatives, outlined in a letter to Orr from Christie’s Americas president Doug Woodham, were: to use the art as collateral for a loan, lease the works to a partner museum, create a “masterpiece trust,” sell the art and loan it permanently to DIA, or put the works in a traveling exhibition.
Detroit Art Sale Could Raise Up to $866m, Auction House Says