hollywood billionaire

Chapter 439: Buy Buy Buy (Part )
"is it?"

Han Yi leaned his elbows on the sofa, clenched his right fist, supported his cheek, and asked with interest.

"What eye-opener?"

"Open..." Jordan Bromley stared and shook his head left and right. "First of all, this painting is an absolute national treasure. Do you know who was the first person to come to us after Antoine and I landed in New York?"

Han Yi was too busy in Las Vegas. After all, whether it was the cooperation with the Saudi General Entertainment Authority, the appointment of Dr. Dre as CEO, Joshua Kushner's acquisition of Musical.ly, or his initial acquaintance with Taylor Swift, every task he completed at the Mad City Music Festival was much more important than going to Sotheby's in New York to complete the preliminary process of purchasing paintings.

So he directly authorized his legal advisor and investment manager, entrusting them with full responsibility for connecting with Sotheby's and the seller.

This is the fundamental reason why Antoine Gachet and Jordan Bromley, two important figures in his career, were absent from the Mad City Music Festival.

"Who?"

"Ambassador," Jordan Bromley said word by word, "The new Austrian ambassador who just arrived in Washington, Wolfgang Waldner."

"Newly appointed?" Han Yi smacked his lips and asked, "Taken office this year?"

"In January this year, he was in charge of the cultural policy department of the Austrian Ministry of Foreign Affairs in Vienna, so he was eager to do something for his motherland... in terms of cultural exchange." Jordan Bromley nodded slightly, "We just arrived at the Carlyle Hotel, and before we even checked in, the lobby manager told us that a distinguished guest was waiting for us in the executive lounge."

"I don't even need to guess that he wants to persuade you to return the painting to Austria."

“Yes, he hopes to help the Kunsthistorisches Museum in Vienna reach a long-term lease agreement with us, promising to display this painting as the museum’s treasure, alongside works by Raphael, Caravaggio and Rubens, in a prominent position.”

"None of them are from Austria." Han Yi was referring to the three people Jordan mentioned, Raphael, Caravaggio and Rubens. "Only Rubens can be considered to be from the same country, and that was the Holy Roman Empire four hundred years ago."

"That's why he's so anxious. Vienna is desperate to show art that truly belongs to them."

"So how did you respond to him?"

"I said I had no right to make decisions on behalf of my clients, and Antoine said the same thing. Our attitude is that we will bring back the terms they have given and present them to the owner of the painting, and the real owner will decide."

"What are the conditions they proposed?"

"According to international practice, a long-term lease agreement is signed and renewed for five years..."

"Do not."

"I got it."

Jordan put down the letter of intent neatly. After working together for such a long time, he has figured out Han Yi's consumption habits and his temperament in dealing with things. This young wealthy Chinese man does not like loans, installments, or renting, whether others rent to him or he rents to others.

What he seeks is complete, total, and unquestionable ownership.

“That’s why, although we haven’t given a final answer to any institution that has approached us, we have told them that we don’t think it is likely that you will loan it to any museum or gallery for public display.”

"Any organization?" Han Yi narrowed his eyes. "What else?"

"Too many, Yi. I'm not particularly familiar with the art market, but Antoine told me that 2016 was a slow year for art transactions, especially painting transactions. From January to now, only your transaction has exceeded $ million. Among other transactions, the most expensive one is the Picasso sold at Sotheby's in London."

"Seated Woman, $6340 million, June 6, I know."

"Your knowledge of each niche field you are involved in is really amazing."

"Since you've already dabbled in it, you must try your best to understand and master it within your capabilities." Han Yi stretched his body and continued, "Otherwise, don't touch it."

"You are right, so you should be particularly aware that museums and galleries around the world will definitely compete for the most expensive painting sold in 2016 at all costs... Not only the Kunsthistorisches Museum in Vienna, but all the galleries and museums that can be named in New York have come to us."

"There must be MoMA, right?" Han Yi pondered for a moment and asked, "After all, this painting was leased to MoMA for a long time before Oprah put it up for auction."

"Of course." Jordan Bromley gave an affirmative answer. "Glenn D. Lowry came to us personally and invited Antoine and me to have lunch. Antoine was very excited."

"I assume this Glenn is an art giant in New York. Has he been in charge of MoMA for a long time?"

"He has been the director of MoMA since 1995. He presided over the construction of the new museum, and it is said that he was also very good at fundraising - he raised $4.5 million for the construction of the new museum and another $4.5 million for operating funds, and increased the collection from to nearly ."

"No wonder Antoine is so excited." Han Yi understood. "He chases after these big names in the art world just like ordinary people chase after stars. But Antoine only admires the best, the real masters... He is indeed a guy with great taste."

"I understand that." Jordan patted his thigh lightly with his palm. "There is no doubt that Antoine is a very interesting work partner. He is usually elegant, sophisticated, humorous, easy-going... He has all the labels you want to put on French men, but he can remain efficient, calm and strong at work... He also has any labels you would not put on French men."

"He is both French and Swiss. I think this dual identity may help him to have more labels on himself." Han Yi thought for a moment and said, "So, in front of Glenn, did you and Antoine say the same thing?"

"It's roughly the same meaning, with a slight difference in wording."

"What's the difference?"

"We said that the 'real owner will make the decision', but we didn't say, 'It's unlikely'."

"Why?" Although he asked the question verbally, the smile on Han Yi's face became more and more intense.

“Because MoMA and other American institutions that have inquired about renting the painting for exhibition can partially meet your expectations for this painting.”

Observing Han Yi's reaction, the curve of Jordan's mouth became more obvious.

He knew that he had made the right choice for his current largest client.

"Antoine and I are very aware of your needs and preferences. You don't like to hand over the things you buy to others to manage and put them in places you can't see. You need 100% ownership and a sense of complete control over this thing... This is true for private jets and yachts. I think it should be the same for more private and more expensive precious paintings."

"yes……"

Han Yi wiped the corners of his eyes, subconsciously using this action to cover himself up.

If it weren't for the highest cash back reward multiple, who would choose to buy these things in full?

Even the most generous billionaires will choose to use the power of financial tools to borrow other people's money to consume as much as possible and keep their own money firmly in their hands. Because, no matter what era, cash is king. Wealth that can be accessed at any time and freely disposed of is the trump card that can best increase confidence and confidence when risks come.

Take this Klimt painting as an example. Sotheby's has made it clear that it can provide financing services for Han Yi's transaction. In fact, art loans have always been one of the main sources of income for Sotheby's auction house and the most important part of the art transaction chain. In the United States alone, the total amount of art loans in 2016 exceeded 200 billion US dollars. Sotheby's alone has issued more than 25 billion US dollars in loans in the past 55 years.

Of the $55 billion, more than 43% was disbursed after 2014. This is because before 2014, the main source of funds for Sotheby's Financial Services was the auction commissions obtained by the auction house. After 2014, Sotheby's established a special capital structure for the financial services department, using a special revolving credit line to obtain loans and provide them to customers for art financing - in other words, Sotheby's used to borrow money with its own cash, but later borrowed money from banks and other financial institutions first, and then disbursed it to customers.

Financial institutions are happy to provide funds for such transactions because they know that the two major auction houses, Sotheby's and Christie's, have ultra-high net worth clients who have been screened and reviewed. These people are not financing because they don't have that much money, but because they have other uses for their money. Even if they are out of money, they usually have a wide variety of assets under their names that can be used as collateral, so they don't have to worry about bad debts.

Sotheby's is happy for clients to borrow from them in this way because auction commissions are only one-time income after all, while the interest spread generated by funds loaned through revolving credit is long-term income. As a publicly traded company on the New York Stock Exchange, they need this kind of impressive data to embellish their financial statements.

Most importantly, most customers are happy to use Sotheby's financing services. The auction house has been at the forefront of the tide for 272 years, which is itself a reassuring golden sign. In addition, for each loan, Sotheby's provides 40-60% of the lowest auction appraisal price as a loan. For more precious artworks, such as Han Yi's "Portrait of Mrs. Adele Bloch-Bauer No. 70", Sotheby's can even increase the loan amount to 80-%. The loan release time is also very fast. After the agreement is signed, the loan can be deposited into the buyer's account within one to two weeks.

Moreover, two-thirds of the loans issued by Sotheby's were not bound by a consignment agreement.

In other words, if you buy something with a loan from Sotheby's and want to resell it, it is completely fine to give it to Christie's or other galleries with higher auction appraisals and more willing customers. As long as the loan can be recovered, Sotheby's will not have any complaints.

Therefore, for art buyers, especially those who buy artworks at extremely high prices, the benefits of similar financing services far outweigh the disadvantages.

But for Han Yi, the situation is just the opposite. The disadvantages of financing far outweigh the advantages.

When it comes down to it, the reason is just three words - not fun enough.

It’s not satisfying to mortgage the artwork you want to buy to others in exchange for a loan.

It’s even more unpleasant to use other people’s money to buy things.

Besides... using other people's money to buy things, can it still be considered your own consumption?
Can I still get cash back?
Han Yi wasn't sure, but he didn't want to try it rashly, especially with this $1.5 million deal.

The mood was already set, and he had learned all about Klimt's life story, and had a strong resonance with it. As long as the $1.5 million arrived at Sotheby's escrow account smoothly, and was transferred to Oprah Winfrey after deducting the commission, Han Yi would be able to see a huge amount of cash back funds that could be freely allocated, and he would also get a masterpiece that was truly worthy of the words "priceless".

In this situation, who would choose to take the risk?

Full payment! Full payment is required!
"I just want to have the final say over my assets and how I deal with them in the future."

Han Yi gently stroked every joint of his right index finger, trying to make his reasons sound more convincing.

"To be honest, I don't care how many people see this painting every day. I really don't care. I don't think this masterpiece is something I have to lock in the basement for myself to appreciate. It's art, it's history, it needs to be displayed, appreciated, and worshipped. I just... don't want it to be beyond the scope and radius of my control, you know what I mean? I hope I can still own it and enjoy the feeling of owning it. Instead of spending $1.5 million and not being able to see it for several years, and having to fly all the way to a strange country to see my own art."

"I completely understand what you mean, Yi. If it were me, I would have the same mentality. Self-interest and altruism coexist. I can spend $1.5 million and then open it to the public for display, but the power of this display must be firmly in my own hands. It must bring me enough benefits, or something else... To be more precise, if I can spend $1.5 million to buy a painting, then what I covet is definitely not the rental fees charged by museums and galleries, or the convenience and professional experience they can bring me in the storage and security of paintings."

"If you want to rent my paintings, then you'd better show me what you can use in exchange. I gave you a masterpiece that has effectively helped you increase the number of visitors and your worldwide popularity. So, how can you repay me? How can my career, my family, and me benefit from your organization? Can the founder behind your organization be used by me? Are you willing to have a closer relationship with me?"

"These……"

“It’s something I’ll think about and care about.”

"Then you have a lot of things to think about and care about."

Hearing Jordan Bromley's almost perfect answer, Han Yi rubbed his brows, took a long breath, and chuckled softly.

This great lawyer really understands his thoughts.

This strong perception and judgment is both comforting and worrying.

“When two people who both think a lot get together, there are definitely a lot of things they think about and care about.”

Jordan keenly captured Han Yi's subtle mentality, took a step back, and pushed Antoine out while speaking. The deep meaning was self-evident.

"He thinks a lot about his clients, and I think a lot about my clients too. Our ultimate goal is to accurately capture the real needs of our clients and develop plans that are several steps ahead of others so that our clients always maintain a competitive advantage." Jordan looked at Han Yi seriously, "We are all engaged in the service industry. Good practitioners provide what people ask for verbally. And excellent practitioners provide what people don't ask for verbally, but have been thinking about in their hearts."

"From this point of view, you and Antoine are both top practitioners." Jordan made his attitude clear, and Han Yi stopped beating around the bush with him. "I have to admit, Jordan, the issues you mentioned are exactly what I am concerned about... I don't mind cooperating with art institutions and lending my works to them, but they must be helpful to me. I think this is neither self-interest nor altruism... It's pure business."

"Doing business, that's right." Jordan tilted his head, thought for a moment, and nodded, "It depends on what kind of business you want to do."

“I’m in the same business as those who trade art, manage art, and exhibit art.”

"clear."

Han Yi's words were vague and abstract, but Jordan once again quickly grasped his true meaning - because the latter had accompanied the former to meet those "people who are good at trading, managing, and displaying art" as he called them.

top of the food chain.

The all-seeing eye on the pyramid.

"In that case, I think MoMA is a good partner, as it has always been in the hands of the richest and most powerful family in the United States. Anson Goodyear was its first chairman of the board, Abby Rockefeller was its first treasurer, John D. Rockefeller Jr. donated its permanent site, and its current board of directors only has two life directors - David Rockefeller Jr. and Wallis Annenberg."

“If you’re looking for a friend, a business partner, an ally, I think MoMA is the best place to do it.”

"All the names you mentioned are no longer active or even alive." Han Yi shook his head. "Besides, this painting was previously exhibited at MoMA. They have owned it, so their mentality will be different. If I choose to continue to cooperate with them, then at most I will be the next Oprah Winfrey. And no matter how famous Oprah is, there will be no Oprah in their circle."

"Besides, MoMA has so many board members, the ownership is so complicated, and the voices are so noisy. Who should I be credited with for the Klimt painting I sent over?"

"What about the Guggenheim Museum? They've visited us, too." Jordan tentatively offered the second option, "It's entirely owned by the Guggenheim Family Foundation. Their family, through two investment company branches alone, has $3500 billion in assets under management. There's overlap with your business, too - they acquired Dick Clark Productions in 2012, and the American Music Awards, Billboard Music Awards, and Golden Globe Awards are all projects managed by this company."

"Didn't you watch the news?" Han Yi smiled. "Wanda announced that it would acquire Dick Clark for $1 billion two days ago."

"I haven't watched the news, and I don't need to watch the news. My best friend from my college fraternity works for Paul Hastings. Dick Clark is their client in this acquisition." When talking about professional matters, Jordan Bromley's speech speed increased a little. "The acquisition has indeed been announced, but both parties have encountered many obstacles from there and here. I don't think it will be successfully implemented in the end."

"Even if it doesn't go through, this acquisition has shown us two facts." Han Yi stretched out the index and middle fingers of his left hand, pausing them in mid-air. "First, Guggenheim doesn't have much interest in Hollywood. I'm the one who suffers by exchanging their marginal interests for my one-of-a-kind work. Second, it's obvious that Dick Clark is waiting for a good price. So if I want some of the benefits, such as getting some seats at the American Music Awards or the Golden Globe Awards, I might as well buy it directly. Anyway, the last deal, as you said, couldn't be completed, right?"

"Yes, you have a point." Jordan readily agreed. The most important thing was that he smelled something else between the lines of the client's words. "I don't know if my feeling is correct, but Yi, I feel like you seem to have set a priority in your mind in advance."

"I do have a preference."

"You can tell me who you are interested in working with, and then I will tell you whether they have contacted us in New York. This should be the most efficient way."

"Okay." Han Yi nodded slightly, "The one I most hope to cooperate with is... the Metropolitan Museum of Art."

"Metropolis?"

Jordan was a little surprised when he heard Han Yi's answer, and frowned in confusion.

“But the Met is different from MoMA and the Guggenheim… The Met’s buildings are owned by the city of New York. The city provides heating, lighting, and electricity for the museum, and also pays for… about one-third of the cost of collection maintenance and security. This lease will certainly make you a friend of New York, but it will not bring you the real benefits that Rockefeller, Annenberg, and Guggenheim can bring you.”

“Who donated or loaned the collections?”

“By a member of the Met’s board of trustees.”

"Then can I understand that..." Han Yi said in a long tone, "If the things I loan to the Metropolitan Museum of Art are valuable enough, I can also be elected as a member of the board of directors?"

"That's right." Jordan frowned even more tightly. "But leasing a famous painting worth $1.5 million... just for a seat on the board? I mean, the Met's board is indeed full of celebrities, but wealthy people usually put their wives or next generations on it, like Tisch's wife, Abramovich's wife, and Robert Soros... I have to emphasize again that this is a public museum owned by the New York City government. Countless eyes are watching it, and there is almost no benefit to speak of."

"Some benefits cannot be seen on the surface, Jordan. In other words, some benefits are considered benefits to me, but not to others." Han Yi took a sip of ice tea and said the second half of the sentence leisurely, "The Metropolitan Museum of Art is a special place for me. I don't need to gain benefits from this institution itself. What I need it to provide is just the unique experience."

"and……"

"I don't need to be a board member myself, do I?"

"I already have a perfect candidate in mind."

"The perfect person who won't attract attention but is always by my side, paying attention to me, understanding me, and being able to speak on my behalf."

"Then who do you have in mind is..."

"of course……"

Just as he was about to answer Jordan's question, Han Yi noticed that the other person's eyes were always drifting behind him.

Han Yi, sensing something was wrong, stopped talking and turned his head.

Suddenly found...

Zhao Youzhen, who was jogging with Madison in the mountains, returned home at some point.

At this moment, she was sweating profusely. Under the afternoon sun, the sweat beads glowed with an enchanting and alluring luster, embedded in her skin, showing off her godly perfect figure and vitality as vigorous as the wild.

There is a fresh mountain breeze in my breath and a burning emotion hidden in my heaving chest.

The deep and clear eyes are filled with unspeakable emotions.

Staring at Han Yi without blinking.

(End of this chapter)