August 7, 2013
The loss of a city is divestiture of the arts. Arts are the culture capital of a city that draw tourism, attraction and ingredient in valuation. The bean counters first reflex is to sell off assets as in a corporate take over yet a city is social and economic compact that when all is said and done is a home to people, companies, resources and biosystem. The importance of “Detroit Manager Hires Christie’s to Appraise Holdings at City Art Museum” for $200,000 to determine the value of the city’s art is the practical move but not the sustainable alternative.
“The city of Detroit, which has filed for bankruptcy, has formally hired the international auction house Christie’s to appraise part of the city-owned art collection held by the Detroit Institute of Arts, the auction house said Monday,” reported the New York Times. Any decision about whether to sell the art to satisfy creditors has not been made, city officials have said, though all the city’s assets are being evaluated in light of the situation in Detroit, the largest American city ever to file for bankruptcy.”
The sustainable opportunity is to invest in the arts to support assets that cannot be recouped. The divestiture of creative resources and assets can prove to be a loss for the city. The sustainable opportunity is to decide in the mind of its leadership that the city is to be saved and/or scrapped for its complex parts. The decision become the marching orders for the city’s future.
- Detroit’s Venal Art Sale No Fix for Urban Nightmare (bloomberg.com)
- So now we know who brought Christie’s auction house in to appraise Detroit’s art collection: Emergency Manager Kevyn Orr (eclectablog.com)
- Bankrupt Detroit Assesses Its Art Treasures – ABC News (abcnews.go.com)