Wednesday, July 21, 2010

Packard Plant Alive With Interest, But Not For Its Auto History

"Of all the derelict buildings filling the city of Detroit, one of the most famous is the former Packard automobile plant. As much as the city of Detroit would like to do something about the the 3,500,000-square-foot facility, nobody seems quite sure who owns the dilapidated building... nor is there any consensus on who should foot the bill for the massive clean-up project. Recently, though, the old Packard plant became just a little bit more valuable, leading to a skirmish between an assortment of interested parties.

British-born and highly-secretive street artist Banksy recently descended on the decrepit Packard plant, leaving his mark behind in the form of an image of a young boy holding a can of red paint. Beside the boy are the words "I remember when all this was trees." It seems that Banksy's handiwork has a rather high value attached to it. In fact, Angelina Jolie is said to have paid half a million dollars for a few pieces of the UK artist's previous paintings, and this latest piece is said to be valued at over $100,000. But in this instance, there are questions as to who, if anyone, owns Banksy's work."

Read the full article here.

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