Collector gets 422 million AmEx (China) points wth Chenghua era cup purchase
Jul 18, 2014, 8:43 am
#1
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Collector gets 422 million AmEx (China) points wth Chenghua era cup purchase
http://www.bloomberg.com/news/2014-0...llion-cup.html
He didn't even know he got 421,860,000 AmEx points....
He didn't even know he got 421,860,000 AmEx points....
Jul 18, 2014, 9:24 am
#2
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It appears that Membership Rewards (Hong Kong) transfer 15:1 to airlines.
http://www.americanexpress.com/hk/en...tr.shtml#Flyer
http://www.americanexpress.com/hk/en...tr.shtml#Flyer
Jul 18, 2014, 2:21 pm
#5
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Liu Yiqian isn't a miles/points collector. He's a fine porcelain collector who just happened to swipe his Amex card after making the winning bid in an auction for an ancient Chinese ceramic cup. That winning bid was HK$281 million (US$36 million) which netted him 421,860,000 AmEx MRs.
He swiped it 5 times...
Jul 18, 2014, 2:44 pm
#6
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Jul 18, 2014, 3:01 pm
#9
Join Date: Nov 2013
Location: NYC
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It appears that Membership Rewards (Hong Kong) transfer 15:1 to airlines.
http://www.americanexpress.com/hk/en...tr.shtml#Flyer
http://www.americanexpress.com/hk/en...tr.shtml#Flyer
Hello Singapore suites!
Jul 18, 2014, 3:12 pm
#10
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AMEX Centurion.
Though I don't know if it's the China or HK version.
Jul 18, 2014, 3:30 pm
#11
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amex charge cards do have limits, even the centurion card. those limits are based on your spending history.
article said that transactions were limited to 12M HKD, thus the need to process multiple transactions.
article mentions that the card he used is denominated in Yuan and that there are capital controls the limit the amounts of money transferred out of the country. my guess is that the card was a PRC, not HKG, issued card.
article mentions that the card he used is denominated in Yuan and that there are capital controls the limit the amounts of money transferred out of the country. my guess is that the card was a PRC, not HKG, issued card.
Jul 18, 2014, 3:37 pm
#12
Join Date: Oct 2013
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article said that transactions were limited to 12M HKD, thus the need to process multiple transactions.
article mentions that the card he used is denominated in Yuan and that there are capital controls the limit the amounts of money transferred out of the country. my guess is that the card was a PRC, not HKG, issued card.
article mentions that the card he used is denominated in Yuan and that there are capital controls the limit the amounts of money transferred out of the country. my guess is that the card was a PRC, not HKG, issued card.
Liu, who drank Chinese tea from the cup shortly before he paid for it, had to sign 24 separate AmEx receipts because the system can only swipe transactions of up to HK$12 million at a time, said Nicolas Chow, head of Chinese ceramics and works of art and deputy chairman of Sotheby’s Asia.
Jul 18, 2014, 5:22 pm
#14
Join Date: Jan 2014
Posts: 47
That ceramic cup will probably have some crazy appreciation in the next 10-20 years. I don't know who this guy is, but I'm assuming his fortune is self-made (ie not inherited), since he's a Chinese national. You don't earn 900M by making bad financial decisions...