Warren Buffett will have lunch with you and up to 7 friends — but it'll cost you at least $1.51 million

  • The annual bidding for lunch with Warren Buffett is now open.

  • The highest bid on eBay quickly rose to $1.51 million.

  • You have to prequalify before bidding.

  • Bidding closes at 7:30 p.m. ET on Friday.

You can now bid for the chance to have Warren Buffett join you and up to seven friends for lunch.

Now in its 19th straight year, the Power Lunch with Warren Buffett auctions a meal with the Berkshire Hathaway CEO, with all of the proceeds going to charity.

Bidding on eBay opened Sunday at $25,000, and the highest bidder had escalated the price tag to $1.51 million by the following day. It's likely to get even more expensive by the time bidding closes at 7:30 p.m. ET on Friday.

RELATED: 11 ways Warren Buffett lives frugally

Last year's winner, whose identity was not disclosed, shelled out $2,679,001 for lunch with the Oracle of Omaha.

It didn't always cost this much. Back in 2000, a tech entrepreneur named Pete Budlong became the first winner to score a sit-down for $25,000 during an in-person auction, according to The New York Times.

To date, the highest bidders have paid more than $25 million combined for the lunches with Buffett. The cash will once again go to Glide, a San Francisco-based charity that is dedicated to fighting poverty and inequality. It also supports the homeless amid a crisis of affordable housing in the city. It was a favorite charity of Susan Buffett, Warren's late wife.

The winning bidder will have lunch with Buffett at his favorite New York City steakhouse: Smith & Wollensky.

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