Heard about it this morning, while listening to one of the pod-casts. And I was taken aback to know about the highly priced charity auction which is currently going on for the 'Lunch with Buffett', this month. This 12th annual auction started on June 5th on eBay and will go on till the 10th. The bidding started at 25,000 dollars and the current bid is going over 2 million dollars and last year's winner paid 2.63 million dollars, that's a hell lot of money.
In 2003, David Einhorn of Greenlight Capital hedge fund won the bid for $ 250,000 and since then the bidding price has been rising. As in 2008, the bid went over 2 million dollars by a Hongkong based investor Zhao Danyang and the million dollar trend is continuing right into this year as well.
All the proceeds from this auction go to a social service institution named 'GLIDE', a very noble cause indeed. And the winner gets to have a power lunch with Mr. Buffett, along with seven friends at the Smith & Wollensky, New York. Having lunch with Mr. Warren Buffett, is not that difficult, if you have enough money.
So what are you waiting for guys, pitch in, to help a cause and get some brilliant investing tips from the 'Oracle of Omaha' himself.
June 11th, 2011 - This year's bid went for 2.6 million dollars and the winner chose to remain anonymous.
www.LunchWithWarrenBuffett.com