The eyes of the art world are trained on Woodward Avenue in Detroit, on the Detroit Institute of Arts.
Christie's Auction House is formally appraising the city-owned works at the DIA at the request of emergency manager Kevyn Orr.
The very hint of the idea that pieces in the DIA collection could be sold off to satisfy Detroit's creditors has had the impact of a tsunami in the art world.
The DIA says the collection doesn't belong to the city, it belongs to the public, and thus, is protected by a public trust. These are all questions federal judge Steven Rhodes will eventually decide.
So now, with this appraisal, there's this for the art world and art patrons to consider: when Christie's delivers its report to Orr, it will be the first time the public gets an idea of the market value of thousands of pieces of art at a world-class museum.
Detroit Free Press staff writer Mark Stryker recently wrote an article about the appraisals, and he joined us today to talk about what this means for the DIA, the city of Detroit, and for the art world.
Listen to the full interview above.