Did ya hear the one about the Chinese art investor who paid $170 million for a Modigliani painting?
Mr. Liu made the purchase with his American Express card so he and his family could fly free on the membership rewards points he accrued. No joke. For that, he is my hero!
Come to think of it, I have purchased all of my artwork with a credit card instead of cash for the rewards points. If you are going to pay for something, why not get something extra in return? That’s how Liu and I roll.
His wife told the New York Times “We are on a one-year payment plan for the painting,” Ms. Wang said. “If we had to pay cash upfront, that would be a little difficult for us.” She added: “I mean, who has the money for that?” Whoa… WHAT?!?!?!
Please tell me he clicked on “Chip’s Favorite Credit Card Offers” (in the top right corner of this site) to get an Amex with no-interest for 12 months. Otherwise, he’s an idiot. If he doesn’t pay off his balance in full every month, interest alone will probably be around $2 million per month. That woudda more than covered their plane tickets.
