Whether it's a sign of the troubled financial times or wily art investors are waiting until the last minute, there's been only one online bid for a signed portrait of Omaha billionaire Warren Buffet
ANNA JO BRATTON / The Associated Press | Posted: Wednesday, November 19, 2008 6:00 pm
OMAHA — The sole bidder on a signed portrait of Omaha billionaire Warren Buffett has won it for $100,000 in an online auction.
The 6-foot-by-6-foot canvas was painted in 10 minutes by performance artist Michael Israel in front of a crowd waiting to enter the Berkshire annual meeting in Omaha.
It bears the signature of Israel and Buffett, the so-called “Oracle of Omaha.’’
All proceeds from the eBay auction will benefit Girls Inc. of Omaha. The nonprofit group provides educational and recreational programs for girls.
The bidding didn’t reach the levels of a lunch with Buffett, the chairman and CEO of Berkshire Hathaway, which is based in Omaha.
In June, a Chinese investment fund manager agreed to pay $2,110,100 to dine with Buffett.
The year before, two investors bid a total of $650,100 to break bread with Buffett.
Proceeds from those luncheon auctions went to the Glide Foundation, which provides social services to the poor and homeless in San Francisco.
Buffett’s daughter, Susie, is on the board of Girls Inc. The portrait auction closed Thursday evening and drew just two bids — both for $100,000 — from the same person.
A message left for Roberta Wilhelm, executive director of Girls Inc., wasn’t immediately returned Thursday evening, and the identity of the winning bidder wasn’t known.
Information from the online auction listing says Israel used paint from Benjamin Moore, a wholly owned subsidiary of Berkshire Hathaway.
Buffett signed the canvas twice, using paint and a black marker.
Associated Press Writer Nelson Lampe contributed to this report.