Kevyn Orr open to ideas on DIA collection - KMSP-TV

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>>

  • Jimmy Buffett returns to Comerica Park on July 26

    Jimmy Buffett returns to Comerica Park on July 26

    Thursday, April 17 2014 11:23 AM EDT2014-04-17 15:23:48 GMT
    Jimmy Buffett will take the stage once again this summer at Detroit's Comerica Park. Olympia Entertainment announced Thursday that Buffett and his Coral Reefer Band will play one night only on Saturday, July 26 with special guest John Fogerty.
    Jimmy Buffett will take the stage once again this summer at Detroit's Comerica Park. Olympia Entertainment announced Thursday that Buffett and his Coral Reefer Band will play one night only on Saturday, July 26 with special guest John Fogerty.
  • Body found in Lake Erie, crews look for 3 missing

    Body found in Lake Erie, crews look for 3 missing

    Thursday, April 17 2014 11:15 AM EDT2014-04-17 15:15:54 GMT
    The U.S. Coast Guard says the body of a missing boater has been found in Lake Erie and they're continuing to search for three others off the Ohio shoreline.
    The U.S. Coast Guard says the body of a missing boater has been found in Lake Erie and they're continuing to search for three others off the Ohio shoreline.
  • Police: Break-in suspect shot, dies after crash

    Police: Break-in suspect shot, dies after crash

    Thursday, April 17 2014 10:54 AM EDT2014-04-17 14:54:57 GMT
    Detroit police say a break-in suspect who was shot by homeowner has died after crashing a getaway vehicle into a nearby home on the city's west side.
    Detroit police say a break-in suspect who was shot by homeowner has died after crashing a getaway vehicle into a nearby home on the city's west side.
Powered by WorldNow

KMSP-TV
11358 Viking Drive
Eden Prairie, MN 55344

Phone: (952) 944-9999
Fax: (952) 942-0455

Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | Terms of Service | Ad Choices