In other words, airline tickets for life. Amex typically takes 3% or more from merchants, according to my business-owning friends. And I looked it up, these are the airlines he can convert those 1.7m points to air miles with. American Express is going to keep around 3% of the $170 Million, or around $5.1 million. Right now, the reserve requirement for large banks is 10.1%, so for the sake of math lets make that $50 million more that American Express can now lend in the form of credit cards. At 12% APR that amounts to roughly $6 million a year of revenue off the bank fees from the original purchase, more if the balance is not paid off in the first month. I think AmEx can afford to buy the guy airline tickets for life. The buyer’s premium is 12% on top of the hammer price. Even if AMEX charges Christe’s 3%, they’ll still do fine. It is obviously possible that they don’t cough up points on every dollar used on a credit line. This is just a big draw on a business credit line probably as a few-day bridge loan. But let’s not ruin the fantasy. So if he misses a payment does his APR jump to 38%? The guy previously charged $36 million for a “a rare porcelain chicken cup” to his Centurion card. It’s a charge card and not a credit card and it essentially has no limit at all. He probably has to inform the concierge that he’s using it for something that big, but he can essentially buy anything he likes with it, as long as he can clear the balance at the end of the billing period he’s all good. It’s not like he just rocked up, decided to drop $170 million and said “whack it on this”, I expect Amex were aware of this probably occuring months ago. He has $170 million to throw at a decoration for the den. I am guessing he has his own jet and doesn’t fly commercial. I’ve worked for American Express in the past.. But yes, this person will get their points for this. I’ve seen points balances well over the 20 million mark. With AmEx points he can get whatever he wants, and since it was a black ( Centurion ) card, more than likely makes huge purchases like this all the time. And unless we worked out a deal to pay it over time, the balance is due next month.