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Christie’s Will Appraise Detroit Art Institute Collection

Christie’s International Plc will appraise the collection of the Detroit Institute of Arts, which may be worth at least $2.5 billion, in response to creditors demanding a valuation of the insolvent city’s assets.

While the city, which entered the largest U.S. municipal bankruptcy on July 18, has no plan to sell the museum’s art, the assessment is “an integral part of the restructuring process” to deal with $11.5 billion in unsecured debt and improve services, Emergency Manager Kevyn Orr said in a statement.