$7500 is a lot to pay for the privelage of handing over a black Amex. Platinum is essentially the same thing. But $7500 for someone that meets the minimum spend to be invited is more or less pocket change.
The Black is no different that the Platinum. I think it's just for the Prestige. The JPM Palladium is as comparable for the most part.
But holy fees !!
Depends on the status it confers, and how much money one has to spend on something like this. I could comfortably afford the AF as a throughly middle-class individual, but it'd be better used paying my absurd theoretical S. Cali mortgage. Actually pencils out close to one payment including taxes.
I spend more than that on non-essentials each year; was looking at purchasing a staple suit and realized I may be spending about that much for entry-level quality bespoke or high-end RTW... for something I'd wear maybe two weeks a year assuming I get sent to our NY office as my boss keeps threatening.
Just saying, it's only absurd compared to the AF's legions of other cards have for similar benefits, but as we're all by nature irrational and if the intangibles outweigh the cost, it'd be worth it.
Edit: I was just looking at the AF, didn't see the initiation fee, though amusingly my example still holds: list price recent Kiton, 10K.
Obviously this business is working well for AMEX. I thnk i read somewhere that there were only about 17000 people who had the black AMEX. Just he fees themselves are enough to keep the Centurion Dept open.
A friend of mine was just talking about how he had the black Amex, this must be the one? He used it with his sailing time share business. There was no limit, and they could put a yacht on the card. Then, pay it off each month, like chump change. He is single and available. lol