June 8, 2012 | last updated June 8, 2012 11:53 am

Bidding for lunch with Buffett hits $400,000

Warren Buffett

With less than 12 hours left in the charity auction to win lunch with billionaire Warren Buffett, 84 people had already entered bids.

According to the auction's eBay page, which went live Sunday night, the highest bid to dine with the legendary investor was $410,200. The opening bid of $25,000 came from an anonymous donor just after the auction began.

Proceeds from the annual auction will benefit Glide, an organization that helps alleviate poverty in the San Francisco Bay area. Over the last decade, Buffett has raised more than $11.5 million for the organization.

Starting at 10 p.m. ET on Friday, Glide's website and eBay page will live stream a countdown to the auction's close at 10:30 p.m. Buffett and eBay chief John Donahoe are expected to talk about the work that Glide has done for the community.

Last year, the winner shelled out a record $2,626,411 to dine with the "Oracle of Omaha," exceeding the $2.6 million record set in 2010.

Both of those record auctions were won by Ted Weschler, a former managing partner of Peninsula Capital Advisors, who made the bids anonymously. Buffett hired Weschler in September after sitting down for their $2.62 million meal in Omaha last summer.

The chairman and chief executive of Berkshire Hathaway will join the winner of this year's auction and seven friends for lunch at Smith & Wollensky steak house in New York.

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