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Art is Detroit's Last Great Asset, and it Could Be For Sale
- 08/05/2013 07:01 PM EDT Politics
Several weeks ago, Detroit became the largest city in the US to declare bankruptcy, after grappling with billions in debt. Before the bankruptcy decision came, Detroit hired an outside consultant, Kevyn Orr, to manage the debt -- and one of the solutions he considered was selling off Detroit's massive, world-class art collection.
Speculation about the sell-off has flared up again, after Orr hired New York-based auction house Christie's on Monday to come in and appraise the city's collection, which is likely worth billions.