Charity Auction Bids for Coffee With Tim Cook Pass $500,000

[bmustaf]

I think the people that are shaking their heads at "$X Thousands for a 30 min coffee meeting with T Cook?" are missing the point.

It's a *charity* auction. No one is seriously paying that, it'd most likely be easier to buy your way into Cook's neighborhood and then sell the house 6 months down the road if you really were that pathological about meeting the guy.

No, it's a *charity* auction, and Tim Cook is lending his exclusivity, reach, and buzzworthiness (whether you agree with it or not, his name gets headlines on stuff like this - look, it's working!) to cast a wide net for the RFK center and drive up the price.

It's working.

Businesses and wealthy individuals frequently give this much or more as charity in one gift or for the year (especially large companies and very wealthy people), so, it doesn't at all seem ridiculous.

 

[Nebrie]

That's crazy, there's no way meeting with a CEO (any ceo) is worth that much money.

Multi-multi millionaires and billionaires live in a completely different world. Half a million for something like this is about the same percentage of their net wealth as a cup of coffee is for you.

Also, they get to write it off on their taxes so they aren't really spending that money.

 

[charlituna]

current value is 10 times greater than the estimated value...bubble is ready to pop.

It's the Apple Tax

 

[johnnnw]

danmcq $499,000 Fri, 26 Apr 2013 9:50:14 AM EDT
danmcq $450,000 Fri, 26 Apr 2013 9:48:08 AM EDT
danmcq $400,000 Fri, 26 Apr 2013 9:47:56 AM EDT
danmcq $350,000 Fri, 26 Apr 2013 9:47:47 AM EDT
danmcq $310,000 Fri, 26 Apr 2013 9:47:39 AM EDT
danmcq $300,000


Big history... why is "danmcq" bidding himself up?

 

[syd430]

I'm pretty sure it's just a Macrumors user, desperate to ask Tim if the next Mini has a retina display.

 

[Nightarchaon]

If i were Tim, id just outbid everyone and have a quiet lunch

 

[crsh1976]

Multi-multi millionaires and billionaires live in a completely different world. Half a million for something like this is about the same percentage of their net wealth as a cup of coffee is for you.

Also, they get to write it off on their taxes so they aren't really spending that money.

If you are a millionaire/billionaire, you don't use lowly methods like auctions to gain access to someone, that's for poor people like you and I.

 

[ajvizzgamer101]

Anyone with that much money should be able to have a coffee break with Tim any day. The only reason it got so high was for charity. And no one really know Tim like we know Steve, someone wants to get into this guys mind about possible iTV, iWatch, iOS 7...ect If all those things happen this year it will probably be one of Apple biggest years.

 

[Semester]

Overpriced. There are cheaper and better-specced people to have a cup of coffee with on the market.

Definetly. Especially since he's supposed to be a closed person.

 

[bbeagle]

Also, they get to write it off on their taxes so they aren't really spending that money.

Do you know what a write-off is?

Say you donate $10,000 to some cause. That actual money has to come out of your bank account. You lose that ACTUAL money.

Come tax time, say you made $50,000. You no longer have to pay taxes on $50,000, but instead $10,000 less than that, which is $40,000. Say your tax rate is 15%. Instead of paying $7,500 in taxes, you'd pay $6,000 in taxes.

So, this $10,000 is actually costing you $8,500 if you count the benefits of a tax write-off. It's not FREE.

Seriously, I'm sure someone will want to flame me. I'm trying to make this simple - of course there are all sorts of things that will reduce your taxes, taxes are tiered, etc. etc. This is very simplified. I'm just trying to show that a tax write-off is actual money someone is spending.

 

[dscuber9000]

I can't believe how many people don't realize this is for charity, not just to meet Tim Cook.

 

[hayesk]

That's crazy, there's no way meeting with a CEO (any ceo) is worth that much money.

The publicity surrounding it might be. And it's offset by a tax deduction, since it's for charity.

 

[Piggie]

Will be funny when, if not already, people just start piling in joke bids.

Like they are really going to imprison the old homeless guy for a joke bid.

 

[longofest]

damn... that just about puts it out of my reach

 

[cire]

That's crazy, there's no way meeting with a CEO (any ceo) is worth that much money.

I agree! Just think of the good works that could be achieved with that money. Justice or Human Rights could be brought to the world! If Steve were still around there is NO way he'd allow this. This is just another example of Fanbois self-obsession. Apple should be innovating instead of making these ridiculous money grabs! I say "Make Safari Snappier!!"

PS: I am starting a Kickstarter campaign to raise $1Million to see Mr. Cook. Please contribute so that I can contribute ;-)

 

[itr81]

Clear Crates in the lead for 560K! lol Maybe they are aiming to hit million..but who knows.

 

[GiantSteve]

Automated bidding

I'm guessing CharityBuzz works like eBay where danmcq placed a $499,000 bid when the price was below $300,000. When other bidders came in with higher bids the system automatically places a bid at the next increment to beat their bid. It looks like he is bidding against himself in the history but there are likely other attempted bids which drove his bid up.

danmcq $499,000 Fri, 26 Apr 2013 9:50:14 AM EDT
danmcq $450,000 Fri, 26 Apr 2013 9:48:08 AM EDT
danmcq $400,000 Fri, 26 Apr 2013 9:47:56 AM EDT
danmcq $350,000 Fri, 26 Apr 2013 9:47:47 AM EDT
danmcq $310,000 Fri, 26 Apr 2013 9:47:39 AM EDT
danmcq $300,000


Big history... why is "danmcq" bidding himself up?

 

[pwfletcher]

That is absolutely insane!

 

[samcraig]

That's crazy, there's no way meeting with a CEO (any ceo) is worth that much money.

Nope, and whoever wins the bid is not going to get hours...more like a quick handshake, a coffee, and a bag of freebies.....and a polite good day. Can't see the attraction myself

Well yes. But remember - it's also about the charity. It's entirely possible that those bidding see it as a win-win-win. They support a worthwhile charity. They also get to hang out with Tim. And unless I'm mistaken - it's a tax write off.

It's entirely possible that whoever wins might have just cut a huge check to the charity. This "perk" is just something they are using as a means to do it.

 

[vrDrew]

The winning bidder will also get something far more valuable than a cup of coffee with Tim Cook: They'll also get the (probably millions of dollars worth) publicity that goes along with it.

Not that that's a bad thing. But it helps put the amounts being bid into better perspective.

 

[nfl46]

If I'm paying that much, I better get an exclusive iWatch, iTV, iPhone 6 (2014), iPhone 7 (2016), iCar, iBoat, etc. Lol.

 

[johncrab]

Drat! My bid of 502k plus a free iPad didn't get it done.

 

[camnchar]

$50k isn't looking so egotistical now.

 

[guzhogi]

Obviously some people have too much money.

Anyone remember the "I am rich" iOS app?

 

[cire]

The thing that made me want to line up to bid was the video where Jony Ive describes the attention to detail that went into crafting the coffee. They used crystalline diamonds to polish the coffee grinds after brewing. It is simply magical. I think the unibody coffee cup will revolutionize the coffee industry. Once again Apple disrupts another industry. I can't wait for my $600,000 cup of coffee!