Every year, thousands of Berkshire Hathaway (BRK.A) shareholders and Warren Buffett fans attend the company’s annual meeting in Omaha, Neb., and its associated events. Since Buffett found out that tickets, formerly only available to shareholders, were being scalped on eBay (EBAY) in 2004, he has made them officially available for only $2.50 each on the very same site.
At one point a set of four tickets was being auctioned at eBay for $250, according to a report in the New York Times, before Buffett made 10,000 tickets available for purchase, flooding the online auction site. Buyers can grab two tickets to the event for $5.00.
Normally, one needs to be a Berkshire Hathaway shareholder in order to attend this event, scheduled for Saturday, May 2. At the time of writing this article, just one share of the cheaper “Class B” stock of the company costs $2957. Each shareholder was given a postcard in the annual report mailed in March that could be filled out and sent in to receive meeting tickets, according to the Berkshire Hathaway Web site.
However, that Berkshire Hathaway was offering these tickets officially on eBay hasn’t stopped other people from selling tickets on the Web. One eBay seller is packaging four tickets and neck straps with a visitor’s guide and a copy of the 2008 annual report that has only been “thumbed thru [sic]” giving it a “Grade B” in the listing. The starting bid for this auction is $24.99.
Another seller has tickets on craigslist for $25 each or best offer.
The annual meeting is much more than a typical shareholder meeting. In addition to the meeting itself, visitors can attend a cocktail reception as well as “Warren’s Western Cookout” on Saturday. Later on, Warren’s son, Peter, is giving a concert nearby at the Rose Theater. And, of course, fans and shareholders will be given the chance to pick Buffett’s brain at a Q&A session.Related Links
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