Perhaps unsurprisingly, the buyer is the head of an asset management firm. Mitch Julius, founding partner at Canyon Partners, said of his purchase, "It's something tangible you give to your kids if they are ever interested in investing. It's a show-and- tell story."

The $25,250 book is the only first edition of The Intelligent Investor that carries Buffett's signature, Buffett's assistant told Bloomberg.

In classic hard-bargaining fashion that Buffett no doubt would admire, the Investing for Children's Causes Foundation bought the book from B&B Rare Books for an undisclosed amount (less than $25,000), then sold it. The proceeds go to organizations that help get low-income kids into college.

The book was listed at $3.50 when it first sold in 1949.

mtaylor@observer.com

Twitter: @mbrookstaylor