Could a wooden marionette help solve Detroit 's budgetary woes ? With Detroit 's declaration on Thursday of bankruptcy , some of the city 's creditors may think so . The museum of the Detroit Institute of Arts , home to 60,000 pieces of art , is also home to the original Howdy Doody marionette puppet that was the star of its own 1950s-era children 's show . It was acquired in 2001 , according to the DIA 's director of communications . `` It is estimated that the marionette could sell at auction for $ 400,000 to $ 500,000 , '' said Gary Busk , a puppet collector who was featured on the television program `` Antiques Road Show . '' That would hardly make a dent in the city 's immense $ 18 billion debt . But , despite an opinion from the state 's attorney general that appeared to assure Howdy would stay , legal experts say there 's still a risk he could wind up packing his bags and riding into the sunset with many of the museum 's other residents . The arts institute 's director , Graham Beal , maintains that DIA 's collection is among the top six in the Western Hemisphere . While he could not specify a value , Beal told CNN in May that it would likely be in the billions of dollars . It was then that that a request by Detroit 's emergency manager , Kevyn Orr , for an inventory of holdings sparked alarm among Detroit residents and museum administrators that the DIA 's collection could be sold to help pay off the city 's debt . Then , in June , Michigan Attorney General Bill Schuette issued an opinion stating that Detroit ca n't sell the DIA 's art , although the city technically owns the collection . `` It is my opinion , therefore , that the art collection of the Detroit Institute of Arts is held by the City of Detroit in charitable trust for the people of Michigan , and no piece in the collection may thus be sold , conveyed , or transferred to satisfy city debts or obligations , '' Schuette told CNN in a written statement . He said that he recognized the extreme financial hardships the city is experiencing , and the challenges the city faces , but argued that selling the artwork would `` damage not only the city 's but the state 's cultural commonwealth . '' But the opinion could be for naught , said Eric Scorsone of Michigan State University prior to Thursday 's declaration . `` It 's certainly better than nothing , but a state attorney general 's opinion is certainly not going to be definitive in federal bankruptcy court , '' Scorsone said . `` I do n't think that is going to carry a huge amount of weight . '' Laura Martell , a law professor at Wayne State University in Detroit , echoed that sentiment . `` He just issued an opinion , which is not binding on anyone and certainly has no legal effect in a bankruptcy case , '' she said . `` A bankruptcy judge may or may not find it persuasive on the merits of its analysis , but it has no binding effect . '' Bill Nowling , spokesman for emergency manager Orr , said that `` nothing is being considered for sale . '' `` All of the city 's creditors have asked about the DIA and whether it has been valued -- it has not -- and some creditors have said everything that is n't nailed down should be sold to pay them , '' Nowling wrote in an e-mail to CNN . `` That wo n't happen because the emergency manager 's proposed restructuring plan is focused on restoring essential city services . '' However , Detroit 's creditors say promises were made and debts must be paid . `` If they 're talking about not being solvent when they have these assets , they do still have some degree of solvency by selling these assets , '' said Peter Hayes , a managing director at BlackRock Inc. , an investment management corporation whose investors are owed approximately $ 200 million by the city of Detroit . Even as signs of the coming bankruptcy grew stronger , the DIA 's officials remained resolute in their determination to protect their collection . `` Our position has n't changed . We only sell works of art to buy works of art , '' Beal said . `` We are not given works of art so that we can settle debts made ( during ) decades of mismanagement and corruption . '' Howdy Doody is a marionette in the image of a freckled-face boy dressed in cowboy attire . `` The Howdy Doody Show '' ran on NBC from 1947 to 1960 . One of Muppet creator Jim Henson 's Kermit the Frog puppets is also among the DIA 's puppet collection , which boasts around 800 pieces . The DIA was founded in 1885 and houses more than 100 galleries , a lecture and recital hall , an art reference library , and a state-of-the-art conservation laboratory , according to the museum 's website .
Despite an opinion from Michigan 's attorney general , Howdy Doody may be moving . The city of Detroit owns Howdy and many other puppets . A court may make Howdy Doody part of the booty in the bankruptcy . Comment: