Starting this Sunday, eBay (EBAY) - Get Report will open up the 16th annual Warren Buffett Power Lunch Auction, which sends one lucky winner (and seven friends) to lunch with Berkshire Hathaway (BRK.A) - Get Report (BRK.B) - Get Report CEO Buffett, where they will be able to glean insights from one of the most successful investors. They'll also get to eat at Smith & Wollensky in New York City.
Just as Buffett has done for the past 15 years, he will be sending all of the winning bid to GLIDE, a charity that helps San Francisco's poor overcome hunger, poverty and homelessness.
"GLIDE helped me understand just how much a life can be transformed by unconditional love and some real material help," Buffett said in a statement. "Nobody who's donated to GLIDE has ever felt shortchanged. They always get their money's worth."
So far, the Buffett Power Lunch auctions have raised nearly $18 million for GLIDE in total. Last year's auction alone brought in $2,166,766, and the highest year brought in $3,456,789.
The auction will open Sunday, May 31, at 7:30 p.m. Pacific time and close Friday, June 5, at 7:30 p.m PT. The bidding will start at $25,000, and all bidders must pre-qualify prior to bidding at ebay.com/glide.
"eBay is committed to building a future that enables and inspires charitable giving at scale, and is grounded in what the company does best -- technology-enabled commerce," eBay's vice president of Global Communications and Social Innovation Claire Dixon said in a statement. "Last year alone, we helped charities raise $91.6 million. eBay is a proud supporter and partner to GLIDE as we assist in its mission of helping San Francisco residents in need."