Kevyn Orr open to ideas on DIA collection - New York News

Kevyn Orr open to ideas on DIA collection

Posted: Updated:
DETROIT, Mich. (WJBK) -

Emergency Manager Kevyn Orr addressed the city's finances while attending the Detroit Economic Club luncheon Thursday. During his speech, he also addressed a very hot topic: the auctioning of the Detroit Institute of Art's collection.

The artwork inside the museum is known to be worth hundreds of millions of dollars. Rumors that the collection will be sold off to repay the city's creditors have been swirling for months, especially when representatives from Christie's Auction House came to town.

Thursday Orr finally addressed the issue publicly, saying right now he has no specific plan on what to do with the DIA collection, and is hoping for input.

"I have a fiduciary obligation to account for all the assets of the city of Detroit, and foremost amongst them might very well be DIA," Orr says. "I'm hoping that all of you, in addition to the folks who are operating DIA, ... are able to come up with a solution that makes sense both for the city and for the creditors in that fashion. If they don't though, I have an obligation to develop a solution my own."

Click on the video player above to hear more from Orr on the issue.

Orr says a possible solution is to lease some of the art long-term to other museums across the country. There are no officials plans for that yet, Orr has just mentioned that as one possible way for the city to make money off of the art.  

Christie's is expected to finish its appraisal of the most valuable pieces in the museum's collection by the end of October, and the rest of the evaluation should be completed in November.

  • Download the FOX 2 Apps


  • FOX 2 News Five-Day Forecast
  • Local NewsLocal NewsMore>>

  • Garner's family meets U.S. attorney

    Staten Island stores worried about rally

    Staten Island stores worried about rally

    Thursday, August 21 2014 11:01 PM EDT2014-08-22 03:01:16 GMT
    The Rev. Al Sharpton and family members of Eric Garner came from a meeting with U.S. Attorney Loretta Lynch in which they asked for a federal civil rights investigation into his apparent chokehold death. Meantime, Staten Island businesses are bracing for the huge crowds expected at Saturday's march. Sharpton said he is estimating about 3,000 to 5,000 people to rally Saturday.
    The Rev. Al Sharpton and family members of Eric Garner came from a meeting with U.S. Attorney Loretta Lynch in which they asked for a federal civil rights investigation into his apparent chokehold death. Meantime, Staten Island businesses are bracing for the huge crowds expected at Saturday's march. Sharpton said he is estimating about 3,000 to 5,000 people to rally Saturday.
  • Brooklyn Nets Kids Dance Team auditions

    Brooklyn Nets Kids Dance Team auditions

    Thursday, August 21 2014 10:26 PM EDT2014-08-22 02:26:39 GMT
    Out of over 500 hopefuls only a handful will join the Brooklyn Nets Kids Dance Team. The Nets held auditions this week at LIU Brooklyn. Adorable Bronx native Arielle was turned away last year but this time around she's made it through to the final round of the auditions. But even those who were on the team last year still have to try out.
    Out of over 500 hopefuls only a handful will join the Brooklyn Nets Kids Dance Team. The Nets held auditions this week at LIU Brooklyn. Adorable Bronx native Arielle was turned away last year but this time around she's made it through to the final round of the auditions. But even those who were on the team last year still have to try out.
  • Chris Rock gets foul ball at Yankees game

    Chris Rock gets foul ball at Yankees game

    Thursday, August 21 2014 10:03 PM EDT2014-08-22 02:03:11 GMT
    Chris Rock almost made the play of the day at Yankee Stadium. Instead, the comedian wound up with a nice prize -- a foul ball that nearly landed in his lap during Thursday's game between the Houston Astros and New York Yankees.
    Chris Rock almost made the play of the day at Yankee Stadium. Instead, the comedian wound up with a nice prize -- a foul ball that nearly landed in his lap during Thursday's game between the Houston Astros and New York Yankees.
Powered by WorldNow
Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | New Terms of Service What's new | Ad Choices