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DIA artwork value could be up to 4.6-billion dollars

The Detroit Institute of Arts
The Detroit Institute of Arts

DETROIT (WKZO) -- The full collection of the Detroit Institute of Arts could be worth as much as 4.6-billion dollars. That figure comes from a New York art investment firm hired to appraise the full collection of the city-owned artwork

Artvest Partners puts the range for the value of the artwork between 1.1-billion and 4.6-billion dollars. New York auction house Christie's previously valued the artwork at 866-million, but only looked at the pieces that were purchased with city funds before 1955.

The artwork could possibly be sold off to move the city out of bankruptcy.

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