RELEASE: City of Detroit Hires Christie's Appraisals Inc.

New York

We confirm that Christie’s Appraisals Inc. was asked and has entered into an agreement to appraise a portion of the City owned collection at the Detroit Institute of Art.  In addition we will also assist and advise on how to realize value for the City while leaving the art in the City’s ownership.

Appraisal of organizations and individual collections is a regular part of our normal business and Christie’s was asked to assist due to our expertise in this area across all fine art categories and eras.  We understand that a valuation of all the City's assets (extending well beyond the art) is one of many steps that will be necessary for the legal system to reach a conclusion about the best long term solution for the citizens of Detroit.

At Christie's, we are passionate about art and understand the importance of the contribution that institutions such as the Detroit Institute of Arts offer to the community and the world at large.  We are proud of our long history of support to museums, including the DIA.  We want to continue to focus our efforts on being a positive force in both the interests of the City of Detroit and its arts community, including working with our fellow arts professionals at the DIA and with the City to find alternatives to selling that would still provide the City with needed revenue.

About Christie’s

Founded in 1766, Christie’s is a world-leading art and luxury business. Renowned and trusted for its expert live and online auctions, as well as its bespoke private sales, Christie’s offers a full portfolio of global services to its clients, including art appraisal, art financing, international real estate and education. Christie’s has a physical presence in 46 countries, throughout the Americas, Europe, Middle East, and Asia Pacific, with flagship international sales hubs in New York, London, Hong Kong, Paris and Geneva. It also is the only international auction house authorized to hold sales in mainland China (Shanghai).

Christie’s auctions span more than 80 art and luxury categories, at price points ranging from $200 to over $100 million. In recent years, Christie’s has achieved the world record price for an artwork at auction (Leonardo da Vinci’s Salvador Mundi, 2017), for a single collection sale (the Collection of Peggy and David Rockefeller, 2018), and for a work by a living artist (Jeff Koons’ Rabbit, 2019).

Christie’s Private Sales offers a seamless service for buying and selling art, jewellery and watches outside of the auction calendar, working exclusively with Christie’s specialists at a client’s individual pace.

Recent innovations at Christie’s include the groundbreaking sale of the first NFT for a digital work of art ever offered at a major auction house (Beeple’s Everydays, March 2021), with the unprecedented acceptance of cryptocurrency as a means of payment. As an industry leader in digital innovation, Christie’s also continues to pioneer new technologies that are redefining the business of art, including the creation of viewing and bidding experiences that integrate augmented reality, global livestreaming, buy-now channels, and hybrid sales formats. 

Christie’s is dedicated to advancing responsible culture throughout its business and communities worldwide, including achieving sustainability through net zero carbon emissions by 2030, and actively using its platform in the art world to amplify under-represented voices and support positive change.

Browse, bid, discover, and join us for the best of art and luxury at: www.christies.com or by downloading Christie’s apps. The COVID-related re-opening status of our global locations is available here.