What Are They Worth?

NBC NEWS/WDIV
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POSTED: Saturday, December 21, 2013 - 7:00am

UPDATED: Saturday, December 21, 2013 - 7:09am

Auction house Christie's releases numbers on value of Detroit Institute of Art works. Will Jones reports.

(WDIV) According to a report by New York auction house Christie's, the fair market value of Detroit city-bought works at the Detroit Institute of Arts is between $454 and $867 million.

The auction house said Wednesday the number was part of the final valuation it had turned in to the city.

Christie's had been conducting an appraisal for the city.

A judge Tuesday ruled Detroit is eligible to fix its finances in bankruptcy, and some creditors seek a role in determining whether art could be used to raise money.

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