During the city of Detroit’s recent municipal bankruptcy, the billion-dollar-plus-valued art collection of the city-owned Detroit Institute of Arts became an issue due of the possibility the art might have to be sold off to pay the city’s debts. Less generally well known, but probably of greater interest to car enthusiasts, is another collection ultimately owned by the city — the six dozen or so vehicles that are owned by the Detroit Historical Museum. One reason why that collection isn’t better known is that most of its more famous cars are usually on loan, displayed at other museums. (Read More…)
Mustang II Concept from 1963
It was once hypothetical, but now that the City of Detroit has filed for municipal bankruptcy, and since no legislation has been passed in Lansing to prevent it, it’s possible that a bankruptcy judge will order that city assets, including the art collection of the city owned Detroit Institute of Arts, estimated to be worth $2.5 billion or more, be sold to satisfy creditors, mostly public employee unions and city pensioneers. A less well known collection of artifacts more closely related to Detroit’s role as the Motor City, and perhaps nearer to the hearts of our readers (not that you’re Philistines who can’t appreciate fine art, but this is not The Truth About Art), could also be sold off to give creditors a few more pennies on the dollar.