A Berkshire Hathaway Beachside Retreat

Purchased for $150,000; on sale for a lot more

Headshot of Richard Horgan

Warren Buffett’s Berkshire Hathaway owns 400 million shares of Coca-Cola. It’s one of his company’s top common-stock investment positions alongside Kraft Heinz, Wells Fargo, IBM and American Express.

For that reason, several folks who caught up with Wall Street Journal real estate reporter Candace Taylor’s scoop that Buffett has put a longtime Laguna Beach, Calif. vacation home on the market were chuckling about an item visible in Slide #10. You guessed it; a Coca-Cola bottle:

Erwin Hudelist: I like how the Coca-Cola products are placed in the pictures.

Frank Webb: Nice touch with the Coca-Cola bottle!

Ian Bird: My thought exactly, great product placement!

Indeed, and it gets better. Right next to the 20-ounce unopened plastic bottle of Coke is a folded copy of the Wall Street Journal. And playing on the TV at the time the photo was snapped, CNBC.

In other words, real estate agent Bill Dolby and the photographer have done everything here but CGI Buffett himself into the fuzzy blue chair in the forefront to convey the aura of the world’s third richest man. In the accompany article, Taylor reminds that the home’s owner would often, over Christmas holidays, hole up in the master bedroom to write Berkshire Hathaway’s annual report.

Another interesting topic of discussion in the WSJ article comments is dollar amounts, adjusted for inflation. Buffett bought the home in 1971 for $150,000. In today’s terms, that is equal to around $900,000. But guess what? The asking price for the property is $11 million, reminding just how out-of-whack the real estate bell curve has ballooned.

Finally, there’s also this cool memory from reader Ann Holmes:

Living in Laguna Beach for many years, we walked by that house often. Everyone in Emerald Bay says hello to each other as one passes by. One summer evening, a gentleman and I exchanged brief pleasantries. My friend who lived just up the street informed me that I had just said hi to Warren Buffet. I had no idea he even lived there. $11 million is hard to imagine, as there is not much of a view and no architectural style, but the beach is gorgeous; glad he and his family got good use out of it.

Photo via: Villa Real Estate

@hollywoodspin rhorgan@gmail.com Richard Horgan is co-editor of Fishbowl.
Publish date: February 23, 2017 https://dev.adweek.com/digital/warren-buffett-laguna-beach-emerald-bay/ © 2020 Adweek, LLC. - All Rights Reserved and NOT FOR REPRINT