Detroit Institute of Arts, should the art be sold? - New York News

Detroit Institute of Arts, should the art be sold?

Posted: Updated:

Opinion by Mike Renda
General Manager, WJBK Fox 2

Detroit's bankruptcy filing has set off a strong set of emotions, but perhaps the most intense reaction to this dire situation comes from the  possibility of selling off the art at the Detroit Institute of Arts.

On one side: The argument that because the DIA is a crown jewel of the city. Its art collection must remain in the public trust. and therefore is off limits to claims in federal bankruptcy

On the other side: The needs of the common man.  We should consider selling the art before we cut worker's pensions or continue to under fund the basic safety services, vital to residents in Detroit.

Here's what I think:

Emergency manager Kevyn Orr must include the DIA in his overall analysis of  the city's assets.

But to sell the art could potentially flood the art market and ultimately reduce the true value of the art.

It would also deprive the city of potential tourist dollars, so selling the art  would be against the long term interest of the city

So what should we do here?

I advocate an approach that other financially challenged museums have adopted identified as the "partial interest plan."

It involves holding joint custody of the paintings and sculptures with another museum.

A recent example was Fisk University Museum in Tennessee, selling a 50-percent stake to "Crystal Bridges," the private museum founded by Alice Walton of Walmart.

So instead of saturating the art market the city could get more money by limiting the nature of the sale and would  result in the city netting millions of dollars for selling just "half" of the rights.  The most valuable works can then spend half of their time in each museum.

The millions in revenue from this plan allow the DIA to keep it's art, but also provides the means to take a large chunk out of the city's debt.

We must  be open to looking at all options when it comes to this extremely difficult  situation.

That's what I think, but I  want to hear from you.  Please add your thoughts below.

  • Local NewsLocal NewsMore>>

  • Superstorm Sandy

    Grimm criticizes storm recovery program

    Grimm criticizes storm recovery program

    Wednesday, August 27 2014 9:06 PM EDT2014-08-28 01:06:30 GMT
    When Superstorm Sandy destroyed Maureen Childs' Staten Island home, she turned to New York City's Build it Back program for help. She says what she got back was heartache. At a news conference Wednesday, Rep. Michael Grimm, who represents Staten Island and part of Brooklyn, highlighted what he called failures in a program designed to help victims of Sandy get back on their feet.
    When Superstorm Sandy destroyed Maureen Childs' Staten Island home, she turned to New York City's Build it Back program for help. She says what she got back was heartache. At a news conference Wednesday, Rep. Michael Grimm, who represents Staten Island and part of Brooklyn, highlighted what he called failures in a program designed to help victims of Sandy get back on their feet.
  • GIRLTALK #takeover

    Angela Simmons reaches out

    Angela Simmons reaches out

    Wednesday, August 27 2014 7:09 PM EDT2014-08-27 23:09:20 GMT
    The Boys and Girls Club of Newark seems like the last place you'd expect to find the daughter of hip hop royalty. But when it comes to inspiring young girls, Angela Simmons, daughter of Rev. Run of Run DMC, believes in the old adage "each one, teach one." While it may seem like she had a silver spoon in her mouth, she knows the importance of giving back.
    The Boys and Girls Club of Newark seems like the last place you'd expect to find the daughter of hip hop royalty. But when it comes to inspiring young girls, Angela Simmons, daughter of Rev. Run of Run DMC, believes in the old adage "each one, teach one." While it may seem like she had a silver spoon in her mouth, she knows the importance of giving back.
  • NYSE rings bell for pediatric cancer awareness

    NYSE rings bell for pediatric cancer awareness

    Wednesday, August 27 2014 7:00 PM EDT2014-08-27 23:00:54 GMT
    On Wednesday, the world famous New York Stock Exchange closing bell rang in honor of pediatric cancer awareness. The Loccisano family says their beloved Frankie heard the bell all the way up in heaven. Frankie's grandmother says she is convinced of it. Camille Loccisano, Frankie's mother, is the executive director of Frankie's Mission, a nonprofit pediatric cancer foundation named in her son's honor.
    On Wednesday, the world famous New York Stock Exchange closing bell rang in honor of pediatric cancer awareness. The Loccisano family says their beloved Frankie heard the bell all the way up in heaven. Frankie's grandmother says she is convinced of it. Camille Loccisano, Frankie's mother, is the executive director of Frankie's Mission, a nonprofit pediatric cancer foundation named in her son's honor.
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