Buffett portrait seeks high ROI for charity
Byline: Contributing: Jeff Casale, Mark A. Hofmann, Joanne Wojcik
Nov 17, 2008
It may not be a Picasso, but a painting by performance artist Michael Israel seems destined for at least 15 minutes of fame-and a price tag of at least six figures.
The painting in question, which measures 7 feet by 7 feet framed, is of none other than the Oracle of Omaha, Warren Buffett.
Mr. Israel painted the portrait in less than 10 minutes earlier this year during the annual meeting of Omaha, Neb.-based Berkshire Hathaway Inc., of which Mr. Buffett is chairman and chief executive officer.
The painting went up for sale on eBay Inc. last week week, with a minimum opening bid of $100,000 and a requirement that bidders be prequalified. Bidding remains open until Nov. 20.
The entire proceeds of the sale will go to local charity Girls Inc. of Omaha.
Would-be buyers who don’t know much about art may be momentarily concerned about Mr. Buffett’s admonition never to invest in a business you don’t understand.
But even a buyer who knows nothing of art is sure to receive the Oracle’s blessing for his or her purchase of the portrait that is autographed by Mr. Buffett and the artist and includes free shipping. After all, the portrait was painted with Benjamin Moore paints, which also happen to be owned by Berkshire Hathaway.