Buffett auctions off another charity lunch but bids may not top last year’s $2.1M winner:
"OMAHA, Neb. — Last year’s winning bid for lunch with legendary investor Warren Buffett topped $2.1 million, but given the economic turmoil, it’s questionable this year’s bidding will approach that level.
Yet Buffett has built a devoted following, as demonstrated by the crowd of 35,000 people at his recent Berkshire Hathaway shareholders meeting, and he offers only one lunch per year.
The online bidding begins at $25,000 Sunday in a charity auction that benefits the Glide Foundation, which provides social services to the poor and homeless in San Francisco. The bids will likely escalate significantly before the auction closes Friday evening at 10 p.m. EDT.
Glide’s founder, Rev. Cecil Williams, said last year’s big bid arrived just in time because demand for Glide’s programs jumped roughly 20 percent in the past year with the recession. Glide relies on donations for most of its $17 million budget, so Williams is hoping for another big bid.
“We depend greatly on these people and their bidding,” Williams said."
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