Economy
A Delightfully Cheesy 1976 Ode to Detroit's Art Museum
The DIA's fortunes weren't always so grim.
Located in a white marble jewel box of a building, the city-owned Detroit Institute of Arts is beloved. The collection, started in 1885 and moved to its present home in 1927, contains gems by some of history’s greatest artists, including Rembrandt, Van Gogh, and Degas. This stuff is worth a lot of money.
Which is why, over the last couple of years, there’s been talk about selling off parts of the collection to help pay off some of Detroit’s staggering debt. The city filed for Chapter 9 bankruptcy in July, citing debts of $18.5 billion. A judge recently ruled that the bankruptcy can go forward, although appeals are pending.