Speculation Surrounds Art Purchases in Macau

Macau, a special administrative region of China, is fast becoming a site for serious art philanthropy. But the motives of certain extravagant art purchases may be suspect, reports The Wall Street Journal.

Speculation has been fueled by the recent $8.84-million purchase of a Qing dynasty bronze sculpture by the businessman Stanley Ho. According to Sotheby’s, the sales price is the highest ever paid for a Qing sculpture.

Mr. Ho has donated the sculpture to the Chinese government, expanding a growing list of casino owners in Macau who have done the same. Last year, Steve Wynn, whose Wynn Resorts is expanding in Macau, paid $10.2-million for a Ming dynasty vase and subsequently donated it to the local government.

Such activity has some critics wondering whether casino owners in Macau hope to win over officials in Beijing in order to promote their businesses. Mr. Ho in particular has faced intense scrutiny since the government broke apart his monopoly in 2002.

David Green, director of PricewaterhouseCoopers’ gaming practice in Macau, says, “It’s a bit hard to speculate on people’s motives, but it clearly isn’t a bad thing to do if you’re taking a lot of business out of mainland China.”

Read more about the changing scope of philanthropy in China in the most-recent edition of The Chronicle of Philanthropy.

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