Warren Buffett to Again Sell at Borsheims

On May 5, Warren Buffett will take his third turn behind the counter at Borsheims, the Omaha retailer owned by his Berkshire Hathaway Corp.

Famed salesman that he is, the 82-year-old billionaire hyped the appearance in his annual letter to shareholders.

“Last year my sales totaled $1.5 million,” he wrote. “This year I won’t quit until I hit $2 million. Because I need to leave well before sundown, I will be desperate to do business. Come take advantage of me. Ask for my ‘Crazy Warren’ price.”

He said that Berkshire shareholder weekend produces a big boost for sales at Borsheims.

“In recent years, our three-day volume has far exceeded sales in all of December, normally a jeweler’s best month,” he said. 

Last year, the company’s director of marketing Adrienne Fay said Buffett is such a good salesman because he is “full of integrity.” 

“He is a very credible man that people feel connected to,” she said. “He is also very down-to-earth, very likable, and he makes people feel comfortable. He is one of the richest men in the world and will sit down and talk to anyone.” 

Berkshire Hathaway’s annual report also noted that the company’s jewelry holdings—Borsheims, Helzberg, and Ben Bridge Jeweler—reported increased revenue but falling earnings, though the report did not provide specifics.

Revenues in 2012 from the retailing segment—which includes the jewelry companies as well as furniture and other holdings—increased 4 percent to $3.7 billion, the report added. Earnings were $307 million, a 2 percent increase from the prior year.

The report does not mention earnings for Richline, the company’s jewelry manufacturer. However, it does reveal that Richline currently has the most employees of any Berkshire Hathaway jewelry holding. The company now has 2,635 employees, compared to Helzberg’s 2,237. 

Here is a video of Buffett selling in 2012:

JCK News Director