Investing
Will the 2017 Lunch With Warren Buffett Auction Live Up to Expectations?
Published:
Last Updated:
Investors and everyday workers alike love to read about or see televised interviews about Warren Buffett. Having been the world’s wealthiest man and being considered by some as the greatest investor of the modern era probably means the octogenarian knows a thing or two. And of course Berkshire Hathaway Inc. (NYSE: BRK-A) is now the largest conglomerate by market cap.
Each year there is an even more important even for one die-hard Buffett fan. That is the annual auction for someone to have lunch with Warren Buffett. eBay Inc. (NASDAQ: EBAY) runs the Power Lunch with Warren Buffett to Benefit Glide auction, and it is set to end on Friday evening, June 9, 2017.
As of last look, the bids had reached the $2.1 million threshold. As you might expect if you have any auction experience, this listing is restricted to preapproved buyers, and you have to be placed on a preapproved list by the seller. With the stock market at all-time highs, it might seem puzzling that the annual luncheon with Buffett was currently nowhere close to a record price with just 10 hours until end of the auction.
According to the eBay auction page for lunch with Buffett, he will dine with the winning bidder and up to seven friends at Smith & Wollensky in New York City on a mutually agreed upon date. Also, 100% of proceeds from the winning bid will benefit Glide. The site notes: Glide’s mission is to break the cycles of multi-generational dependency, poverty and low self-worth by providing a spiritual home of unconditional love. Glide strives to create a healthy community by offering effective services that foster holistic healing in an environment of cultural integrity and diversity.
What needs to be considered here is not just that you get Buffett’s ear and wisdom over lunch. Ted Weschler, one of the two newer portfolio managers for Berkshire Hathaway, paid a total of $5.3 million for two meals with Buffett before he was eventually hired by Buffett.
24/7 Wall St. has tracked the winning bids for this annual Buffett lunch. In 2016, it was $3,456,789 that won the lunch, versus $2.3 million in 2015. In 2012, the top bid was a record $3.5 million.
Perhaps investors can ask Buffett whether he knows or cares that his top stock holdings may be overvalued at current prices?
The auction results for the 2017 “Lunch With Warren Buffett” were seen as follows (as of 12:00 Eastern Time):
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Have questions about retirement or personal finance? Email us at [email protected]!
By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on a673b.bigscoots-temp.com.
By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.