Buffett Lunch Sells for $2.63M

Does this include the price of the actual lunch? An anonymous bidder ponied up $2.63 million Friday in an online auction to have lunch with Warren Buffett, setting a new record for the 11-year-old tradition. The auction, conducted on eBay, drew 77 bids and all the proceeds will go to Buffett’s Glide Foundation, which provides food to the needy. Over the years, investors have jumped at the chance to pick Buffett’s brain over lunch (at the New York steakhouse Smith & Wollensky), because the conversation invariably turns to stock tips. “It’s actually a remarkable calibration of his value,” one author and hedge-fund manager said. “It measures what people think his worth to them is.”