World's Largest Truffle Becomes Most Expensive Selling for $61,250 - SavingAdvice.com Blog - Saving Advice Articles
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World’s Largest Truffle Becomes Most Expensive Selling for $61,250

By , December 6th, 2014 | 2 Comments »


Four pound truffle sells for $60000
No matter how much you paid for your last meal, even if you thought it was outrageously expensive, you can console yourself in knowing it wasn’t as much as it could have been. If you aren’t convinced, just ask yourself, “How much would you pay for a truffle – or even a pound of truffles?” We all know that the oil is expensive, which translates into high prices for the plant itself. Sabatino Truffles has set a new limit to how far someone will go to own white truffles, and they may not be eating this one.

The White Truffle was discovered in the Umbria region of Italy by Sabatino Truffles. It was on display at Sothebys on December 5th, and it was sold to a bidder via phone. The sales price? $61,250.00 – yes that’s right! The truffle weighs over four pounds, but that still translates to over $15,000.00 per pound alone.

And who purchased this award winning truffle? A food and wine lover from Taiwan.

That’s not the most interesting part of the story though. There were million dollar offers from China that came into Sabatino Truffles before the truffle went up for auction, but they said no and decided to auction the truffle off for charity. That means even though it sold for the most ever, it received less than 10% of what it could have been sold for.

The charities of choice – New York City’s branch of Meals on Wheels and the Children’s Glaucoma foundation. They were originally seeking the one million dollar price tag they had received from others, but anything for the two charities was satisfactory.

Why all the talk about some fungus?

The truffle itself is of record-breaking size. It is just smaller than a football and will be placed in the 2015 Guinness Book of World Records.

The weigh-in and cataloging of the truffle occurred in New Haven, New York. The New Haven Mayor, Ed O’Brien, and his secretary, Cathy Sherman, witnessed and signed off on the world record truffle for Sabatino’s CEO Frederico Balestra.

Due to evaporation, the official weight of the truffle had dropped to 3.93 pounds, but it is still a record breaking truffle at that weight. The previous record was 2.87 pounds and sold for $330,000 to private owners in China.

Sabatino’s CEO brought the truffle to the United States because regardless of the cause, if he had sold it in Italy, they would have taken sixty percent of what was made. Now there is some good money going to good causes and Sabatino Truffle Company and New Haven will be in the history books.

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Comments

  • lori says:

    People who pay that amount for something like this have way too much money.

  • Darren says:

    I don’t care what the auction people say. If they were offered $1 million and turned it down and it only sold for $60k, they are pissed as hell. Someone who made the decision to put in on auction instead of taking the $1 million should be fired.

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