Billionaire buys famous painting with AmEx card, gets tens of millions of reward points

Amedo Modigliani, Reclining Nude, Christie's Auction

Chinese billionaire Liu Yiqian, who purchased Amedeo Modigliani’s “Reclining Nude” at a Christie’s auction this month for $170.4-millionm, says he’ll be putting it on his American Express card. 

Liu has used his AmEx card in the past to pay for other high-end items, such as a $36-million tea cup from the Ming Dynasty last year. A high-profile collector, he and his wife plan on using the card again. 

American Express won't confirm the purchase due to privacy reasons, but state that it would be possible. 

“In theory, it’s possible to put a ($170-million purchase) on an American Express card,” said American Express spokeswoman Elizabeth Crosta. “It is based on our relationship with that individual card member and these decisions are made on a case-by-case basis, based on our knowledge of their spending patterns.”

Liu carries an American Express Centurion Card, also known as the AmEx “black card,” an invitation-only card that is given only to AmEx’s biggest spending clients. The card has no official credit limit – and it earns points, just like yours.

 
Source: http://www.theglobeandmail.com//report-on-...