Final Result of the Warren Buffett Lunch Auction

The Warren Buffett Power Lunch Auction through eBay (EBAY) was completed last week. This was the auction to have lunch with Warren Buffett, head of Berkshire Hathaway (BRK-A) (BRK-B), along seven friends. The auction was to benefit the GLIDE Foundation in San Francisco and its programs.

In case you missed it, the results are in. The lunch sold for $1,000,100.00, with 106 bids. Bidding started out at $25,000.

Unfortunately, this lunch didn't pull in as much as last year, when the auction was hammered at $3,456,789. What is interesting is that there were the same number of bids last year as there were this year.

As a matter of fact, the high bid this year didn't even come close to many of the previous years. In 2011, the Warren Buffett lunch went for $2,345,678, in 2010, the Buffett lunch sold for $2.6 million, and even in 2008, the lunch was auctioned off at $2 million.

Not sure why it is so low this year. Any thoughts?