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Power Lunch with Buffett Auction: 2013 Edition

Posted By Jim On 06/12/2013 @ 7:20 am In Personal Finance | 1 Comment

A few weeks ago, as Warren Buffett has done every year for now its 14th year, was the eBay auction of lunch with Warren Buffett and seven of your closest friends at Smith & Wollensky in New York. The proceeds go to the GLIDE in San Francisco, a charity that fights poverty, and an issue close to Buffett’s heart. We’ve followed the auction every year because I find it to be exciting with 2010 and 2011 [3] being the most interesting. Those two years the winner was initially anonymous. We would later learn it was Ted Weschler both times and he would later be hired as part of the succession plan for when Buffett retires. You can read more about his hiring here [4] (and how his stellar performance would make the cost of those lunches look paltry).

The auction has gone for over $2 million ever since 2010 (recession??? what recession!?) and last year’s winner paid $3,456,789 for dinner with Warren Buffett. The winner last year chose to remain anonymous and even today I can’t find information about him or her.

This year? It went for a million bucks plus a hundred dollars. It’s actually the lowest winning bid since 2007, the last time it was even under $1 million. Again, the winner is anonymous… only time will tell if he/she will be revealed.

Here are the last six winners and how much they paid:

  • 2007 – $650,100 – Two investors, Mohnish Pabrai, of Pabrai Investment Funds, and Guy Spier of Aquamarine Capital Management LLC.
  • 2008 – $2.11 million – Zhao Danyang, runs the Pureheart China Growth Investment Fund in Hong Kong.
  • 2009 – $1.68 million – Courtenay Wolfe, president and chief executive of Canadian hedge fund Salida Capital.
  • 2010 – $2,626,311 – Opted to remain anonymous (we later learned it was Ted Weschler, managing partner of hedge fund Peninsula Capital Advisors)
  • 2011 – $2,626,411 – Opted to remain anonymous (Ted Weschler again)
  • 2012 – $3,456,789 – Opted to remain anonymous (has remained anonymous)

Here’s the official auction [5] if you’re interested in seeing how it all shook out.

(Photo: CNNMoney [6])

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[1] Tweet: http://twitter.com/share

[2] Email: mailto:?subject=http://www.bargaineering.com/articles/power-lunch-buffett-auction-2013-edition.html

[3] 2010 and 2011: http://www.bargaineering.com/articles/dine-warren-buffett-3456789.html

[4] here: http://www.omaha.com/article/20130428/MONEY/704289987

[5] auction: http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=290924234866&ssPageName=STRK:MESE:IT

[6] CNNMoney: http://money.cnn.com/2010/06/15/news/newsmakers/Warren_Buffett_Pledge_Letter.fortune/index.htm

Thank you for reading!