In a striking display of both wealth and a love for maximizing benefits, Chinese billionaire Liu Yiqian made headlines in 2015 when he purchased a Modigliani painting for an eye-watering $170 million using his American Express credit card. The painting, titled "Nu couché" (Reclining Nude), is a masterpiece by Amedeo Modigliani and was acquired at a Christie’s auction. Liu's choice of payment was not just a testament to his financial prowess but also a strategic move to accumulate a massive amount of credit card points.
By using his credit card for such a monumental purchase, Liu was able to earn nearly 170 million AmEx points, which he reportedly planned to use to cover airfare for himself and his family. This allowed them to travel around the world for free. Liu, a former taxi driver who turned into one of China's most influential art collectors, and his wife, Wang Wei, are known for their extensive art collection and for founding museums in Shanghai.
The utilization of credit card points in such a manner underscores a savvy understanding of the perks credit card companies offer, especially in the realm of luxury travel. The points from Liu’s single transaction were enough to secure first-class tickets to numerous destinations, reflecting an interesting blend of luxury art acquisition and practical benefits like travel. This melding of worlds is somewhat reflective of Liu’s background and his climb from humble beginnings to significant wealth.
This story not only highlights the extremes of wealth but also the peculiar ways in which the very rich can utilize their spending power. For average customers, the idea of buying art with a credit card is unfathomable, not just due to the credit limit but also because of the potential interest charges. However, for billionaires like Liu, credit cards are more than just a means of acquiring goods—they are a tool for gaining further benefits, no matter how extravagant the spending might seem.
The purchase of "Nu couché" not only added a significant piece to Liu's collection but also demonstrated the interplay between art, finance, and lifestyle, showcasing how modern collectors navigate these intersecting realms. This incident provides a glimpse into the lifestyles of the ultra-wealthy and the unconventional strategies they might employ to maximize their benefits from every angle possible.
