China has entered the auction house

The Chinese Government has been shill-bidding for decades.

And they have every auction house on speed dial.

That’s because their government is a true Whale Collector — just like Jim Irsay (he blocked me on twitter) or yours truly when a Roger Federer card is at auction.

But really, it’s no joke: China goes to great lengths in order to buy all examples of Mao Zedong’s memorabilia (everything from autographs to literally anything he touched during his life).

The reasons are two-fold:

1. As the country’s near-mythic revolutionary, he remains a revered figure today & a vital piece of China’s cultural history. To honor and/or preserve his perceived heroism, China gobbles up any and all Mao pieces whenever possible (through auction, private sale, etc.) & brings the tangible piece of Mao back home. Once purchased, it’s extraordinarily rare to ever see the item available again. Once it is in the Chinese government’s hands, it’s as good as gone — never to be seen by public eyes again.

2. With respect to the ‘shill bidding’ mentioned above: That was just a good hook, it’s not quite accurate as far as I know. However, it’s widely believed that the Chinese are not only motivated to buy the Mao-related item, but also ensure Mao memorabilia sells for massive amounts of money. As RR elegantly explained in a lot description last year: “[They] acquire such examples to not only ensure the Communist leader’s immortal stature but likewise to further the value of anything he touched during his lifetime”

So, back to the reason I’m typing this instead of sleeping (stick with me, it’s worth it… or maybe not & it’s incredibly boring to everyone but me. I could not care less)

Picture your classic dinner party: Mao Zedong & a Pakistani Prime Minister at a Chinese State Banquet Banquet during the 1st Pakistani State visit in 1956.

I KNOW IT’S A CLICHE BUT I DON’T MAKE THE RULES!

Now, as is customary at these events, which I attend monthly depending on the guest list, a slew of Chinese statesmen were also in attendance alongside Mao & Prime Minister Huseyn Shaheed Suhrawardy of Pakistan.

Before the feast, which set the basis for the decades-long relationship between the two countries, they were presented with a fancy menu from which to order.

Among the options — I swear we’re getting close to the point now 😉—  was Consommé of Swallow Nest, Shark's Fin in Brown Sauce, and Roast Peking Duck.

Given the significance of the summit, this piece of paper came to symbolize the two country’s ties to one another, which has remained strong ever since, with Pakistani Prime Minister Yousuf Raza Gilani calling China “[Pakistan’s] best friend” while visiting to commemorate 60 years since that first banquet.

I could spend some more time breaking down the romance between the two world powers, but I don’t feel like it nor do I believe it’s necessary.

Don’t worry, nobody forgot about the menu…

The same piece of paper upon which Mao perused his dinner options has appeared at public auction for the 1st time.

Before I tell you the estimate, here’s some useful info:

1. The menu is signed by Mao + other Chinese leaders

2. A menu salvaged from the Titanic sold weeks ago for $100K

Take a moment.

To show your delicate eyes from the answer, I am going to use this picture of Steve McQueen looking so handsome I refuse to believe it isn’t AI.

Think hard, come up with a number… and before reading on, you’re gonna tweet out your guess and tag me @willstern_.

For those keeping score at home, this is what we call a pathetic attempt at a growth hack.

And while we’re at it, may as well just share the link to subscribe to this newsletter & tell all your friends, loved ones, enemies, mistresses, dental hygienists, and landlords.

Ok, if you have your guess ready, let’s see how you did.

👇👇👇👇👇👇👇

👉 $250,000 👈

👆👆👆👆👆👆👆

That’s the estimate as of the time of writing.

For a menu…

Clearly, this is an example of an auction house knowing exactly what they’ve got & exactly who is going to buy it and for how much.

At the beginning of this newsletter, I joked about shill bidding.

Of course, the circumstances are such that it’s not quite comparable to the collector who bids up their own signed baseball on eBay.

However, it is a remarkably salient example of how one collector (or, in this case, one government) can accumulate such a high percentage of a category that they’re willing/quasi-obligated to protect the price of future sales at all costs.

Though, admittedly, most other examples of collectors who behave this way rarely touch on topics of communism or are implicated in the death of up to 80M people.

By now, this newsletter’s purpose is 100% salient to you. No non-sequiturs, totally gripping stories + A+ analysis, & a tale that has enhanced your life by an order of magnitude.

If this isn’t the case, I apologize for your inability to appreciate true genius. And I also understand, this is a ridiculous & frankly dumb thing to be writing about.

While I’m finishing this newsletter with a ramble, I’d like to acknowledge I’ve gone overboard with the ‘asides’ and self-satisfied tone.

Anywho, I should probably find a hobby.

Have a good weekend, if you come across any objects formerly belonging to Mao, please send them to me via overnight mail.