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money art

The city of Detroit has filed for bankruptcy, and there has been much speculation in the news lately about  the valuable artwork at the Detroit Institute of Arts, and whether the artwork can be sold to pay the city’s creditors.  I am not a legal expert, and therefore the purpose of my post is not to state whether the artistic assets can legally be sold. Instead I am exploring this issue and how it relates to taking the high road.  The $18 billion debt must be paid, and creditors know that Detroit has assets it can liquidate. It is often difficult to know which path leads to the high road. Should the artwork be spared because the collection is unique, and in order to maintain our culture, history, and education, cities NEED art? The pensioners and police officers will suffer in the restructuring plan, so should the art be sold to spare Detroit’s vulnerable citizens?