Back in 2006, a Hong Kong property tycoon dropped $160K on a white truffle and in 2007, Macau casino mogul and billionaire Stanley Ho bought a giant white truffle weighing 1.5 kilograms for a whopping $330,000. But this year, the super-rich avoided the white truffles auction, owing to the global credit crunch. An 850-gram white truffle from Northern Italy was auctioned off for a mere 24,000 euros (US $30,900) at the famous 10th Annual World Alba White Truffle Auction in Tokyo last night. Among the bidders were nine Hong Kong tycoons. Last year, the winning bid at the Alba Truffle Auction was US $208,000 for a 750 gram truffle. The winning bidder, Kazumasa Terada, founder and president of handbag retailer Samantha Thavasa Japan Limited, said…

It’s my first time to buy a truffle. I’ll have a party for my friends; this truffle is probably enough for 50 people.

Bruno Libralon, president of Italian Culinary Institute for Foreigners cited:

The financial crisis has definitely had an impact. It’s sad because it means less money going for charities.

White truffles were lately listed at No. 2 by Fortune Small Business in their list of world’s priciest foods. All proceeds from the truffle sale will go to charity.

Via: Bloomberg