Friday, February 14, 2014

Detroit Art Museum Offers Plan to Avoid Sale of Art / NYT - posted by Florida Fine Art

A still-life painting by the 17-century Flemish artist Frans Snyders was hung at the Detroit Institute of Arts on Wednesday. Daniel Mears/The Detroit News, via Associated Press
Detroit Art Museum Offers Plan to Avoid Sale of Art
New York Times, Jan 29th

The Detroit Institute of Arts, whose world-class collection has been targeted as a potential source of cash to help dig Detroit out of federal bankruptcy, announced Wednesday that it would raise $100 million to help save itself, joining a group of private foundations that have already pledged $370 million toward the effort.

Officials at the city-owned museum, which, along with Detroit, has struggled financially for many years, had said as recently as two weeks ago that such a huge commitment — money to help the city pay its pensions — would be “completely unfeasible.” But in a statement on Wednesday the museum said that it had reached out to corporate leaders in Detroit and would commit to a multiyear effort that would “stretch our fund-raising abilities to their capacity” as a way to protect its collection.

Find the full New York Times article here
This is a follow up to posts I've done before on this subject.  Glad to see the artwork may stay in Detroit and in public hands.  GL

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