Billionaire Warren Buffett's 2006 Cadillac worth about $12,000 fetches $122,500 at auction

Markets Associated Press

Talk about value investing. A 2006 Cadillac owned by billionaire Warren Buffett has been auctioned for more than $122,000 — about ten times its current worth.

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Buffett offered his car for sale on the website Proxibid, specifying that the money would be donated to the nonprofit Girls Inc. of Omaha. The auction website says the car, valued at about $12,000 went for a final bid of $122,500.

The metallic beige DTS sedan has just 20,310 miles and has Buffett's autograph on the dashboard.

Buffett has offered to hand over the keys personally to the winning bidder if that person is willing to travel to Omaha to pick up the car.

The last time Buffett's car was auctioned, the 2001 Lincoln drew $73,200 — well above its book value of $11,200.