it's not a consumable, the piture costs what it did because it's unique and has value. It's not spending it's investing, like in a property or stock. As opposed to buying an expensive production car which is basically equal to flushing your cash down the toilet. So yes if he was to simply spend 1.6 million Euros recklessly then it would have been morally superior to give it to charity but this is different because he does not lose the money.