Public authorities seem inclined these days to part with their art collection. In July, we learned that Detroit’s creditors were eying the city’s arts collection. It was announced today that a federal judge has ruled Detroit should be granted protection from its creditors, marking the largest public bankruptcy in US history.
The trend seems to have come across the Atlantic with Bradford now considering selling part of its collection. It includes works from a city native, David Hockney, among which is the Rake’s Progress that you might have run to see at the Contemporary Art Society after reading my review for One Stop Arts.
The authority’s entire art and museum collection had been insured for £20m, but last month it emerged that an auction house valued a fraction of its fine art at a much greater figure. The auction house examined 195 items and judged them to be worth a total of £30.1m. If the rest of the collection has been undervalued to this extent, it could be worth more than £600m. More on The Guardian
- David Hockney threatens to ‘give up’ on Bradford if it sells art collection, The Guardian
- Hockney in New York, from top to bottom of the heap: A Rake’s Progress prints at the Contemporary Art Society, Reine’s Notebook or One Stop Arts
- Detroit judge rules bankruptcy process can proceed, BBC News