Chapter 1129 – The marriage of Pierrette
The art pieces’ transaction prices in this auction are ridiculously high, and it was reported on the news. The two paintings won by Feng Yu was briefly mentioned at the end of the report, and Paul Allen hogged the headlines. He had bought a painting for 80 million USD! Of course, the report also mentioned that he had spent more than 200 million USD at the auction. This made many people unhappy and called him an art flipping speculator.
Some artists criticize Paul Allen for bringing shame to art, and none of them mentioned anything about Feng Yu.
While Paul Allen is in a bad mood, Feng Yu’s mood suddenly changed for the better. This is because he had received a piece of good news.
“Kameda, are you sure you can buy that painting?”
“Yes, and the price will not be more than 70 million USD. I might even get it for less than 50 million USD. More importantly, this painting is what you want, right?” Kameda Masao replied.
Feng Yu patted Kameda Masao’s shoulder. “Hahaha… Well done! Oh, do you like these oil paintings? If you like, you can pick one of these two. I will give it to you!”
Kameda Masao’s eyes opened wide. Feng Yu had bought these paintings for 70 million USD each. 70 million is the third-highest transaction for an art piece in the last ten years. It is also one of the top ten transactions in modern art history, and Feng Yu is giving him one of these paintings!
“Boss, the painting is too valuable. I cannot accept it.” Kameda Masao was surprised.
“You had worked so hard, and you deserved it. Just pick one of it.”
Kameda Masao is very important to Feng Yu, and giving him some perks occasionally will make him work harder. Kameda Masao is a talent and had helped Feng Yu a lot. The amount of profits Kameda Masao earned for Feng Yu is more than 70 million USD.
“This… thank you, Boss. I will help you get that painting at the lowest price.” Kameda Masao patted his chest and promised.
After Kameda Masao knows Feng Yu had bought two paintings at the auction, he told Feng Yu that j.a.pan has many Western paintings.
A few years ago, when the art market is not doing well, prices for art pieces had plunged. The market is supposed to recover this year, but the internet bubble burst.
It is only at this auction, where Feng Yu and Paul Allen made ridiculous bids. Otherwise, this auction’s transactions will not be so high.
Feng Yu asked Kameda Masao about the paintings in j.a.pan. Kameda Masao told Feng Yu that during the end of the 1980s, many j.a.panese businessmen started collecting art pieces. That’s why many famous art pieces from the West and East fell into their hands. During that period, j.a.pan is very rich.
After that, j.a.pan’s economy collapsed, and many of these art pieces fell into bankers’ hands. Those paintings were used as loan repayments. But doing this will make the value of these paintings drop further. Even when these paintings were put up for auctions with low bidding prices, no one is interested.
Kameda Masao told Feng Yu that Pica.s.so’s painting, , was transacted for more than 50 million USD in the past, making it one of the most expensive paintings at that time.
But now, this painting is evaluated as not worth more than 20 million USD.
Actually, this painting is not worth so little. Many art collectors are still willing to spend 20 million USD on this painting. The bank is not willing to sell it, as they had bought the painting for over 30 million. Furthermore, this painting is worth more than 50 million USD in those bankers’ hearts and will not sell it at 20 million USD.
Feng Yu heard the name of this painting. This is the perfect gift for Kirilenko’s wedding. It is painted by one of the most famous painters, Pica.s.so! He must get it!
Kameda Masao returned to j.a.pan and got his men to negotiate about the purchase of this painting.
Kameda Masao thought this painting remained unsold in j.a.pan, and the price had dropped. Even if those bankers valued this painting highly, it would not be more than 50 million USD.
But the bankers demanded 60 million USD!
A few years ago, no one was interested in this painting even when the price was 40 million USD.
Why are those bankers demanding such high prices?! This is because of the recent art auction in New York! The market for art pieces had recovered!
Kameda Masao felt helpless. He knew why the transactions at that auction had broken records. It was his Boss who made high bids to buy a wedding gift for Mr. Kirilenko.
This is shooting himself in his foot. Feng Yu had pushed up the prices of artworks, and this painting was revalued.
Kameda Masao tried his best to lower the prices, but those bankers refused. This painter’s original owner is Nippon Tri-Trust and switched owners twice before falling into those bankers’ hands.
The recent financial crisis had caused most of the internet companies’ share prices to fall. The bankers had suffered ma.s.sive losses, and they want to use this painting to recoup some losses.
After waiting for two days, Feng Yu grew impatient and called Kameda Masao to ask about the painting.
“Boss, there are some problems.”
“What? Did they refuse to sell?” Feng Yu grew anxious. How can they refuse to sell this painting?! He is determined to buy it.
“It’s not they are refusing to sell it. They are demanding a high price as they said the recent Sotheby’s auction is proof that oil paintings’ value is going to rise.” Kameda Masao explained.
“How high is their asking price? Is it more than 100 million USD?”
“Huh?! It’s not that high. They ask for 60 million USD, but I managed to lower it to 55 million USD now. Give me some time, and I will surely suppress it lower.”
“It’s fine. Just buy it now.” Feng Yu replied. He doesn’t mind paying a few million more, as this is a gift for Kirilenko. Most importantly, it must be unique.
“Boss, are you only going to give Mr. Kirilenko one painting?”
“That’s right. Why are you asking?”
“Then can I propose another solution? Use the painting you had bought to exchange for and ask them to add in a couple more art pieces. I saw one Chinese antique vase among their collection.”
A Chinese antique vase? Feng Yu is interested in getting that too.
“Alright. You will make the decision. If necessary, you can add in some cash as well. You had made a wonderful suggestion.”
Les Noces de Pierrette