Itsme

Buffett lunch auction eBay bid hits $250K
By Jonathan Stempel Sun Jun 26, 6:48 PM ET

NEW YORK (Reuters) - The high bid in an online auction for lunch with
billionaire investor Warren Buffett has reached $250,100, matching a record
set in 2003.

The leading bidder is Mohnish Pabrai, managing partner of Pabrai Investment
Funds in Lake Forest, California.

His bid, placed late Saturday, topped a $250,000 bid by last year's winner,
Singapore resident Jason Choo. The auction on eBay Inc. (Nasdaq:EBAY - news)
began on Thursday and closes on June 30 at 10 p.m. EDT.

Since 2000, Buffett has donated lunches to benefit the Glide Foundation, a
San Francisco non-profit organization that offers programs for the poor,
hungry and homeless.

Buffett, who runs Berkshire Hathaway Inc. (NYSE:BRKA - news) (NYSE:BRKB -
news), is known for his folksy manner and long-term approach to investing in
companies he considers undervalued.

"I've been a very passionate disciple of Warren Buffett for many years,"
Pabrai said in an interview on Sunday. "There is a very large tuition bill I
owe him that I can never repay."

Pabrai's firm invests $231 million, and Pabrai has bid in previous years for
lunch with Buffett.

The lunches began after Buffett's wife Susan, who died last year, introduced
him to the Glide Memorial United Methodist Church. Until moving to eBay in
2003, the auctions were held in San Francisco.

As in previous years, Buffett will host the winner and up to seven friends
for lunch in either Omaha, Nebraska, where Buffett lives and works, or in
New York.
In 2003, David Einhorn, a hedge fund manager at Greenlight Capital LLC, won
lunch with a $250,100 bid.

Last year, Choo won with a $202,100 bid, and later increased his total
donation to Glide to $250,000.

Pabrai said if he wins, he will take his wife and two daughters to the
lunch, which would be in New York. He declined to say how much he might be
prepared to raise his bid.

Pabrai also said he is "satisfied" with Buffett's actions amid ongoing
investigations into Berkshire's General Re Corp. reinsurance unit.

In a Thursday interview on CNBC television, Buffett called Glide "one of the
most remarkable charities in the country."

Pabrai said "Glide is a very impressive organization. I'm very happy to
support it in this manner."

Jihforce

Haha i kept think someone someone bought lunch Buffet at 250K

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Itsme

eBay bidder wins lunch with Warren Buffett at $351,000

Friday, July 01, 2005 12:38:09 PM ET
newratings.com

NEW YORK, July 1 (newratings.com) – The week-long auction for a lunch with billionaire investor Warren Buffett ended Friday, with the highest bid at $351,000 placed by a bidder on eBay (EBAY).

Warren Buffett, the chief of Berkshire Hathaway (BRK.A.NYS), has decided to donate the money from the lunch bid to a San Francisco-based non-profit organization Glide Foundation, which helps the poor and the homeless. The legendary investor would host the winner of the bid and seven of his or her friends in a restaurant in Omaha, Nebraska in New York. Warren Buffett, whose assets are valued at $44 billion, is known for his value-investing strategy. He has a long-term approach in investments and invests in stocks of companies that are undervalued. Warren Buffet is the second-richest man in the world, next only to Bill Gates of Microsoft (MSFT).

ArkiStan

I'll settle for the Chinese food buffet down the block at $6.50.