Author Topic: "25 Years of Fairfax" Auction  (Read 3664 times)

Parsad

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"25 Years of Fairfax" Auction
« on: August 03, 2011, 11:45:15 AM »
Hi Folks,

After the Fairfax dinner this year, we had no one claim the autographed books by Prem.  Rather than have them just sit around till next year's dinner, I thought I would auction one of them off on the board and we'll auction the other one at next year's dinner. 

The proceeds from the book at next year's dinner will obviously go to "The Crohn's & Colitis Foundation of Canada" in memory of Prem's executive assistant, and my friend, JoAnn Butler.

The proceeds from the one I'm auctioning off now will go to the Dakshana Foundation which was started by Mohnish Pabrai and his wife Harina.  Prem is on the Advisory Board for Dakshana, and the Watsa Family has made a $5M pledge donating $1M a year for the next five years.  You can read about Dakshana, including Prem's pledge, here:   http://www.dakshana.org/AR10.pdf

I had no idea that Prem had made such a pledge.  I came up with the idea for the auction last week, and got in touch with his executive assistant Pat Hios.  Prem was delighted with the idea, and I emailed Mohnish this morning to confirm it was ok to do so.  He then sent me the link and said I may be interested in reading page 3 of Dakshana's annual report.  Lo' and behold, there was the donation by Prem!  Corner Market Capital will also donate $500 to Dakshana for 2011. 

The auction begins at $200 U.S. for the autographed copy of "25 Years of Fairfax".  For any die-hard shareholder of Fairfax, or any interested value investor, it is a must for your bookshelf.  I don't believe there will be any more of these published, and getting a signed copy is even harder, so here is your chance.  If you want to bid, please email me at cornermarketcapital@gmail.com.  I will post each high bid as I receive them, but with no names or personal information.  The winning bidder will be directed to send the proceeds to Dakshana, so that they can send you a tax receipt, and I will courier the book to you no charge.  Cheers!
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Parsad

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Re: "25 Years of Fairfax" Auction
« Reply #1 on: August 03, 2011, 02:35:46 PM »
Hi Folks,

Don't bid yet.  Actually, Mohnish got in touch with me and we both thought it was a better idea to put it on Ebay.  That way people can see the bids easier.  He's going to be doing a lunch auction on Ebay as well. 

So hold on to the bids until we get it up on Ebay.  Thanks!  Cheers!
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Mark Jr.

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Re: "25 Years of Fairfax" Auction
« Reply #2 on: September 03, 2011, 07:19:55 PM »
Did this auction ever happen yet?

Parsad

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Re: "25 Years of Fairfax" Auction
« Reply #3 on: September 04, 2011, 08:30:36 PM »
Hi Folks,

No, the auction has not happened yet.  It is scheduled for sometime in October, as Mohnish will be auctioning both the book and a lunch with him simultaneously.  He'll give me the heads up when everything is set to go, and I'll post the link on here.  Cheers!
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Packer16

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Re: "25 Years of Fairfax" Auction
« Reply #4 on: September 05, 2011, 11:44:11 AM »
Sanjeev,

Is there any way to set up another raffle versus an auction as it gives everyone rich and not so rich a possibility of winning.  The downside of the auctions are that they are one by one with alot of $ and they may not benefit to the extent of others.


Packer

Parsad

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Re: "25 Years of Fairfax" Auction
« Reply #5 on: September 05, 2011, 12:49:50 PM »
Hi Packer,

This one is an auction and the proceeds are going to Dakshana.  We are going to see exactly what the free market values it at!   ;D 

I've got another signed copy that we will be raffling off at next year's dinner in April 2012, and those proceeds will go to "The Crohn's & Colitis Foundation of Canada".  I also still have the autographed Peter Cundill book too.  And that will be part of the raffle as well.  Cheers! 
No man is a failure who has friends!