DETROIT (AP) — The nearly 2,800 city-owned artworks at the Detroit Institute of Arts are worth $454 million to $867 million, with one masterpiece by Van Gogh worth up to $150 million, Christie's auction house says in a report released Thursday.
The New York-based auction house spent months determining the collection's fair market value after Detroit filed for bankruptcy last summer. Its findings were submitted in the long-awaited report to Detroit's state-appointed emergency manager, Kevin Orr.
The Detroit Institute of Arts is considered one of the top art museums in the country. The auction house valued one work, Van Gogh's "Self Portrait with Straw Hat," at $80 million to $150 million. Other famous artists' work appraised by Christie's included the oil painting "Le gueridon" by Henri Matisse at $40 million to $80 million, Claude Monet's "Gladioli" at $12 million to $20 million, and Pierre-Auguste Renoir's "Graziella" at $1.8 million to $3 million.
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