Launched a couple days ago, the Charitybuzz auction to have coffee with Apple CEO Tim Cook reached $180,000 in a day, and currently sits at $560,000 (as of writing) with 18 days still left to bid. The top bidder is Clearcrate.com, an Apple accessories website owned by Miami-based entrepreneur Galfry Puechavy.
In our original post on the auction we entered in a price of $500,000 for our screenshot–we never would have imagined bidding would have surpassed that amount to meet with Cook for 30 minutes to an hour. Winning bidders will indeed receive a receipt for the full amount paid, making for one sweet tax write off for any company.
Is the amount I paid for an auction item tax deductible?
Typically, the amount paid above the estimated value of the item is considered tax deductible. We’re not tax experts and can’t provide tax letters or tax advice. Winners receive a receipt that can be submitted to a tax professional for determining any tax-deductible amount.
All proceeds from the auction benefit the Robert F. Kennedy Center for Justice and Human Rights. The next closest bid is an auction to meet David Letterman at a taping of The Late Show in New York City, currently at $7,500.
Update 9:30PM PDT: The auction has now reached $605,000.
Update April 28th: The auction has decreased $5,000 to $600,000.
Update April 29th: Fortune reports the drop happened because the $605,000 bid was made with a stolen credit card, hence the $5000 drop.