A bidder agreed to pay $1.68 million for a steak lunch with billionaire investor Warren Buffett in a charity auction completed on Friday night on eBay.

The winning bid in the 10th annual fund-raiser fell short of last year’s record $2.11 million, paid by Hong Kong-based investor Zhao Danyang.

As in recent years, the winner and up to seven friends may dine with the world’s second-richest person at the Smith & Wollensky steakhouse in New York.

Zhao, who runs the Pureheart China Growth Investment Fund, had his lunch with Buffett on Wednesday.

“I enjoy the lunches immensely. Every winner has been smart and interesting.” Buffett said.

“They come from varied backgrounds and I look forward to meeting with them.

The lunches typically last at least three hours and the time flies by. I’ve learned a lot from the winners and also from their guests.

Over the years I’ve made new friends from these lunches. So I look forward to doing them in future years.”