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So like you want to buy 1.2M for $7800?
Amex sells MR points at 3 cents a piece. OP wants a 64% discount off retail price and on top off that another 35% discount (rebate).
In other words, OP is offering to pay 22.8% of retail price. This could be a great deal for the right seller, lol.
Anyone interested in selling me a new BMW x5 for $12,000? DM if you're interested.