Buffett to Take Bids for His Old Car

LONDON — Billionaire Warren Buffett, the world's nonpareil philanthropist, redefines eBay's definition of a "powerseller." The so-called Oracle of Omaha — who has auctioned annual power lunches to benefit the Glide Foundation, a San Francisco nonprofit that offers programs for the hungry and homeless, a ukulele and an autographed copy of Benjamin Graham's classic book The Intelligent Investor on the website in the past — is to take bids for his old car.


After announcing a $30 billion donation to the Bill and Melinda Gates Foundation, Warren Buffett put his 2001 Lincoln Town Car up for auction. He will be donating the winning bid to the Girls Inc. charity.

The frugal Nebraskan, who now owns a Cadillac, has decided upon a starting bid of $25,000 for the four-door, 2001 Signature Series Lincoln Town Car, which has fewer than 14,000 miles on the odometer and boasts a light-parchment gold exterior, a light beige interior, an etched brass plaque bearing the investor's signature and a personalized "Thrifty" number plate.

The proceeds of the auction will benefit the programs of Girls Inc., an New York-based nonprofit which focuses on science, math, and technology, health and sexuality, economic and financial literacy, sports skills, leadership and advocacy and media literacy for girls ages six to 18 throughout the U.S. and Canada.

Related Story: Top 10 Vehicles Owned by Billionaires

Buffett's daughter Susie sits on the board of the nonprofit, and had suggested the auction to her father. "It is one of the best organizations I've ever been involved with," Susie Buffett said in an interview. "Because of my involvement, he [Warren Buffett] knows the local people quite well, and has come to know some of the people on the national board. He is aware of what an outstanding organization it is."

The starting bid is around half the price you would pay for a brand-new Town Car. However, not every Lincoln has had the world's second-richest man at its wheel.

"We auctioned off a wallet some years back and got $215,000 for it, so we're hoping since this weighs about 4,000 times what the wallet did, you can figure out what we're hoping to get," Buffett, who pledged $37 billion in his stock holdings to the Bill and Melinda Gates Foundation in June, was quoted as saying by The Associated Press. "It's a good use for the car. It's in great shape. You couldn't have the money going to a better spot," he added.

The auction began at 6 p.m. on Tuesday, Sept. 12, and ends at the same time on Friday, Sept. 22. All bidders must be prequalified by Kompolt, an auction-management company.

Main photo credit: Getty Images