Thursday, June 25, 2009

Auction for Warren Buffett lunch ends tomorrow

The annual charity auction for Warren Buffett began last week and finishes up Friday. I've been following with interest over the last several years. Before the magic of eBay, the auction would go for several thousand dollars, and each year it would go up by a few more. The first year the auction was on eBay, it went for about $68,000 (if memory serves). Then roughly a quarter million, then almost $700,000, and finally last year's auction ended at $2.1 million.

Give kudos to eBay and the ultra liquid, bubble fueled market. This year we're well into the recession. Does that reduce the price or raise it? As of this moment, the auction sits at $350,000. But then, these things tend to increase exponentially in the final 60 seconds.

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