A former Swiss ambassador and art aficionado has donated
most of his multi-million collection to a museum in Hong Kong- valued at
$163 million – according to a report in The Wall Street Journal.

Uli Sigg will hand over 1,463 works to the M+ Museum, a
museum for visual culture that is being developed on Hong Kong’s West Kowloon
Cultural District.

He has a collection of 2,200 works, including many by China’s
burgeoning artists thirty years ago, when the country was just opening up.

His collection includes works by artists who now sell for
millions at auctions, like Zeng Fanzhi and Zhang Xiaogang.

The museum plans to open in 2017, and will also pay $22.7
million for 47 other works from Sigg’s collection, said the report.