Investor Warren Buffett’s annual charity lunch sold for $2.62-million on Friday — the largest amount in the 11 years Mr. Buffett has been dining out to benefit the Glide Foundation.

Exuberance reigned at Glide’s office during the final minutes of bidding on Friday. “There were people rejoicing, people standing together shouting, people opening up,” the Rev. Cecil Williams, founder of the Glide Foundation, said in a statement.

Glide is a social-service group in San Francisco. Its annual budget is about $16-million. 

This year’s highest bidder, like some past winners, has chosen to remain anonymous. But it’s unclear whether he or she can stay that way.

Mr. Buffett typically dines with the winner and seven guests at Smith & Wollensky, in New York, roughly a year after the auction. Last year members of the Canadian wealth-management firm Salida Capital won the auction. They initially declined to reveal their identities but came forward about two weeks after the 2009 auction concluded.