Bidding on Buffett power lunch tops $350,000

The annual charity auction for a meal with the billionaire at Smith & Wollensky is accepting bids until Friday evening.

By MSN Money Partner Jun 2, 2014 2:16PM
Credit: © Nati Harnik/AP

Caption: Warren BuffettBy Barbara Kollmeyer, MarketWatch

Ordinary mortals don't often get a chance to sit and chow down with the Sage of Omaha. 

That's because ordinary mortals don't usually have $1 million or so in pocket change lying around. Based on past experience, that’s the minimum needed to win the chance to lunch with Warren Buffett (pictured) and up to seven pals at Smith & Wollensky in New York City.

Bidding on the 15th annual charity power lunch with Berkshire Hathaway's (BRK.A) chairman had reached $350,300 Monday afternoon, with 33 bids vying for the chance for a meal with the billionaire investor. The auction was listed Sunday evening on eBay and will end Friday, June 6, at 7:30 p.m. PT. Potential bidders have to pre-qualify.


All proceeds will benefit GLIDE, a San Francisco church charity that provides meals and social services, which was supported by Buffett’s first wife for several years.


Over the past 15 years, the lunch auction has helped raise nearly $16 million for GLIDE. This year, Smith & Wollensky will donate $10,000 to GLIDE just for the privilege of providing the food.


Buffett himself has called GLIDE "maybe the most effective organization I've seen for people down on their luck. It takes people who have hit bottom and brings them back."


Many eyes will be zeroing in on how much this year's lunch raises. As far as the charity world is concerned, the 2013 auction was somewhat of a disappointment, not to mention a cheap-ish date for Buffett. The winner paid just over $1 million -- the lowest amount since $650,100 in 2007 and a huge drop from the $3.45 million paid by the 2012 luncher. Winning bids have ranged from $25,000 to that $3.45 million over the auction’s history.


EBay (EBAY) also says it will donate $1 to Glide each time this video is viewed.


More from MarketWatch




2Comments
Jun 2, 2014 10:50PM
avatar
I would have pie and coffee with Warren....I'll pay for that; He can leave the tip.
Report
Please help us to maintain a healthy and vibrant community by reporting any illegal or inappropriate behavior. If you believe a message violates theCode of Conductplease use this form to notify the moderators. They will investigate your report and take appropriate action. If necessary, they report all illegal activity to the proper authorities.
Categories
100 character limit
Are you sure you want to delete this comment?

DATA PROVIDERS

Copyright © 2014 Microsoft. All rights reserved.

Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.

STOCK SCOUTER

StockScouter rates stocks from 1 to 10, with 10 being the best, using a system of advanced mathematics to determine a stock's expected risk and return. Ratings are displayed on a bell curve, meaning there will be fewer ratings of 1 and 10 and far more of 4 through 7.

116
116 rated 1
284
284 rated 2
461
461 rated 3
671
671 rated 4
628
628 rated 5
618
618 rated 6
615
615 rated 7
495
495 rated 8
347
347 rated 9
115
115 rated 10
12345678910

Top Picks

SYMBOLNAMERATING
DYNDYNEGY Inc10
TAT&T Inc9
VZVERIZON COMMUNICATIONS9
EXCEXELON CORPORATION8
AAPLAPPLE Inc10
More

VIDEO ON MSN MONEY

ABOUT

Top Stocks provides analysis about the most noteworthy stocks in the market each day, combining some of the best content from around the MSN Money site and the rest of the Web.

Contributors include professional investors and journalists affiliated with MSN Money.

Follow us on Twitter @topstocksmsn.