Tuesday, April 8, 2014

WHY? WHEN THERE IS SO MUCH NEED


When I read the article below, it bothered me. I kept thinking that $36 million dollars could do so much--provide food for a lot of people who are hungry or starving, provide shelter for many homeless, supply medicines to help those in areas with such need, help children born with deformities to have the surgery to help them, build orphanages for abandoned children, shelter animals in need, help with environmental work,...and the list goes on.  But one man chose to spend $36 million on a cup. Oh, I know it is old and rare and a piece of history.  He will probably build a special display case for it and install a special alarm system.  
No matter, as to me it should have been donated to a museum where many will view it and never put up for sale.  I wish Mr. Liu Yiqian had put his money to better use.   One cup...

A rare, 15th century Chinese cup broke the world auction record for any Chinese porcelain, selling in 
Hong Kong for $36 million. (Aaron Tam / AFP/Getty Images)
It measures only 8 centimeters, or about 3 inches, in diameter and couldn't even hold a cup of morning coffee. And yet it is worth $36 million. Or at least someone was willing to pay that much. A 15th century porcelain cup from China sold at a Sotheby's auction in Hong Kong on Monday for $36 million. The item - which is being called a "chicken cup" for its depiction of a rooster and other fowl on its side -- was purchased by mainland China billionaire and collector Liu Yiqian, according to reports.
Liu is known as China's biggest art collector, with tastes ranging from the ancient to the contemporary. He and his wife, Wang Wei, own the Long Museum in Shanghai, where art from their private collection is displayed.  The porcelain cup is believed to have been used for wine and was created during China's Chengua era, which was during the Ming dynasty, in the late 15th century. It is highly coveted for its rarity and history. A businessman from the Philippines was the seller, according to reports. The item is believed to have broken the record for a three-dimensional work of Chinese art sold at auction. In December, a large painting by 20th century Chinese artist Huang Zhao sold for $21.1 million at an auction in Beijing. In 2010, a painting by Ming dynasty artist Shitao valued at $15.5 million failed to sell at a Christie's auction. At the time, Christie's promoted it as the most valuable Chinese painting ever offered at auction. 

 

8 comments:

  1. I agree with you Rose, so much money that could have done so much good elsewhere. this disturbed me too.

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  2. Well, it's his money. Paying $36 million for a cup probably does less harm than building a $36 million palace, which uses up resources that could have been utilised in other ways. Maybe Warren Buffet should run an ethics class for billionaires!

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  3. I totally agree with you, Rose. I'm always astonished by what people will pay for "things" like old cars, items belonging to celebrities, etc. The good that money could do for those hard workers who need a little help from others. It would bring blessings to the giver and the receivers. Lynette

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  4. It can be difficult to relate to the kind of wealth that parts $36 million for a cup. Speculate for a minute the economic stimulation of this billionaire's purchase. Sotheby's made a big commission and probably paid its employees some family wage earnings. He hired a craftsman to make the display case for the cup, maybe hired architects and builders to add a wing to the museum. Thousands of people will come to the Long Museum to see it, stimulating tourism in Shanghai. The Philippine collector sold the cup for a reason, and now gets to pay capital gains tax on that $36 million windfall. Those taxes will pay for all the public services the Philippines can afford, including jobs in government and education. The rest of his windfall is now in cash, which he can use to invest in a new business, build a new mansion, maybe pay off the mother of an illegitimate child, whatever. What I'm getting at, is that when rich people have a reason to be separated from some money, it stirs the economic pot and people benefit. Remember what Dolly Levi said in "Hello Dolly", money is like manure, when it sits in one place, it stinks to high heaven. But when it's spread around, it helps things grow.

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  5. I'm wondering how a guy in a "Communist" country becomes a billionaire.

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  6. I have a similar problem with the gross amount of money paid to athletes for chasing a ball. It is a disgusting example of how childish our society can be with teachers using their own paychecks to buy school supplies for their students in some areas.

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  7. You know, I said the very same thing when I saw this on the news...what a shame.

    Jen

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  8. I'm with you... so much money spent on a thing rather than on people who really need it.

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