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Christie's appraisals to cost Detroit 200,000-dollars

DETROIT (WKZO) -- It is costing the city of Detroit 200,000-dollars to find out the value of city-owned artwork at the Detroit Institute of Arts.  While that may sound like a pretty penny for the paintings and other works, the collection is expected to be valued in the billions.

Detroit Emergency Manger Kevyn Orr says that the appraisal should not be construed to mean that he intends to sell off the artwork. He says this is part of determining the worth of all of the city's assets in order to proceed appropriately with creditors and move properly through the pending bankruptcy proceedings.