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.
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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):
- s***t(1) $2,100,100.00 8 Jun 2017 at 11:48:42PM PDT
- a***n(0) $2,100,000.00 9 Jun 2017 at 8:51:12AM PDT
- s***t(1) $2,000,100.00 8 Jun 2017 at 11:48:42PM PDT
- 1***o(13) $2,000,000.00 8 Jun 2017 at 11:33:45PM PDT
- s***t(1) $2,000,000.00 8 Jun 2017 at 11:48:05PM PDT
s***t(1) $1,700,000.00 8 Jun 2017 at 11:47:45PM PDT
s***t(1) $1,600,000.00 8 Jun 2017 at 11:46:55PM PDT
s***t(1) $1,500,500.00 8 Jun 2017 at 6:14:15PM PDT
1***o(13) $1,500,000.00 7 Jun 2017 at 10:33:52AM PDT - a***n(0) $1,500,000.00 8 Jun 2017 at 12:13:34AM PDT
a***n(0) $1,248,600.00 8 Jun 2017 at 12:12:35AM PDT
a***n(0) $1,248,300.00 8 Jun 2017 at 12:12:04AM PDT
m***a(1) $1,248,000.00 7 Jun 2017 at 8:55:08AM PDT
s***t(1) $1,050,000.00 5 Jun 2017 at 9:35:57PM PDT
m***a(1) $1,024,000.00 6 Jun 2017 at 7:30:45PM PDT
1***r(2) $1,005,000.00 6 Jun 2017 at 5:42:55PM PDT
1***r(2) $1,004,000.00 6 Jun 2017 at 1:12:36PM PDT
1***r(2) $1,003,800.00 6 Jun 2017 at 1:12:32PM PDT
1***r(2) $1,003,500.00 6 Jun 2017 at 1:12:29PM PDT
1***r(2) $1,003,200.00 6 Jun 2017 at 1:12:27PM PDT
1***r(2) $1,002,900.00 6 Jun 2017 at 1:12:24PM PDT
1***r(2) $1,002,600.00 6 Jun 2017 at 1:12:21PM PDT
1***r(2) $1,002,300.00 6 Jun 2017 at 1:12:18PM PDT
1***r(2) $1,002,100.00 6 Jun 2017 at 1:12:15PM PDT
1***r(2) $1,001,900.00 6 Jun 2017 at 1:12:13PM PDT
1***r(2) $1,001,700.00 6 Jun 2017 at 1:12:10PM PDT
1***r(2) $1,001,500.00 6 Jun 2017 at 1:12:08PM PDT
1***r(2) $1,001,300.00 6 Jun 2017 at 1:12:05PM PDT
1***r(2) $1,001,100.00 6 Jun 2017 at 1:11:56PM PDT - s***t(1) $1,001,000.00 5 Jun 2017 at 9:35:16PM PDT
- 1***r(2) $1,001,000.00 6 Jun 2017 at 11:10:06AM PDT
s***t(1) $1,000,200.00 5 Jun 2017 at 9:22:22PM PDT
1***r(2) $1,000,000.00 4 Jun 2017 at 7:31:20PM PDT - s***t(1) $1,000,000.00 4 Jun 2017 at 8:17:34PM PDT
s***t(1) $200,000.00 4 Jun 2017 at 8:17:12PM PDT
i***w(17) $151,000.00 4 Jun 2017 at 7:34:12PM PDT
i***w(17) $133,000.00 4 Jun 2017 at 7:33:15PM PDT
i***w(17) $101,000.00 4 Jun 2017 at 7:32:19PM PDT
i***w(17) $33,000.00 4 Jun 2017 at 7:32:11PM PDT
Starting Price $25,000.00 4 Jun 2017 at 7:30:55PM PDT
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