Warren Buffett has caught the jewelry-selling bug.
On May 4, the second-richest man in America will take his fourth turn behind the jewelry counter of Borsheims, during the annual shareholder weekend of Buffett’s holding company Berkshire Hathaway, owner of the Omaha, Neb., retailer.
Buffett, who started out as an investment salesman for his father’s company, made sure to talk up his latest gig in his annual letter to shareholders.
“Ask for my ‘Crazy Warren’ quote on the item of your choice,” he said. “As I get older, my pricing gets ever more ridiculous. Come take advantage of me.”
A Borsheims’ blog post says the “Oracle of Omaha” will spend two hours selling jewelry, noting in the past he has sold watches, pearls, and engagement rings at favorable prices.
“We’re a little afraid of how low he might go!” added another post. “And the man has energy. He usually sells after playing Ping-Pong, a few hands of bridge, and—oh yeah—a full-day question-and-answer shareholder meeting.”
It added that, because of anticipated crowds, interested shareholders should contact Borsheims ahead of time for the chance to buy from Buffett.
Borsheims will also host a Friday-evening cocktail party for Berkshire shareholders, as well as a main gala on Sunday, during which Buffett will sell.
“In recent years, [Borsheims’] three-day volume [during the shareholder’s weekend] has far exceeded sales in all of December, normally a jeweler’s best month,” said Buffett’s letter.
Here is video of Buffett’s past times behind the counter:
In related news, Berkshire Hathaway’s annual report said that sales from its retail division—which includes Borsheims, Ben Bridge, and Helzberg Diamonds, as well as several non-jewelry businesses—increased 15 percent to $4.3 billion.
The letter said the jewelry division saw increased earnings in 2013.Follow JCK on Instagram: @jckmagazine
Follow JCK on Twitter: @jckmagazine
Follow JCK on Facebook: @jckmagazine