Tech Industry’s Charity Auction Reflects Less Festive Vibe of Wall St.

For those seeking another indicator of which way the economy is going, look no further than the annual charity auction in San Francisco thrown by Red Herring magazine.

This year’s bash at a night club near Union Square was still a top draw for Silicon Valley venture capitalists, their significant others and assorted hangers-on.

But Thursday night’s festivities seemed a lot less festive than those in December 1999, before a black cloud began descending on Nasdaq and its high-tech issues.

The top bids this year, $22,000 apiece, went for billboard space on U.S. 101 and for a first-class weekend in New York including access to a “Saturday Night Live” wrap party.

Grand total for assorted good causes: $200,000, which was more than magazine chairman Tony Perkins was expecting.

But that’s down considerably from last year’s event, which took in about $350,000. The biggest prize last year was a walk-on in an episode of “Ally McBeal,” which went for $210,000. The high bidder was, naturally, a “dot-com” marketing firm that used the role to drum up press.

“A lot of these dot-com problems had to do with spending too much on marketing,” Perkins said. “Given how ugly the market has been, we were pleased” with the latest tally.

What’s more telling than how much venture capitalists and their progeny are willing to part with for a good cause? How much others are willing to part with to meet them.

Steve Jurvetson, of Menlo Park’s Draper Fisher Jurvetson, raised $4,400 for a charity by auctioning breakfast with him in March 1999. Even this October, his partner, Tim Draper, still took in $6,000 for a similar meal. But by last week, Jurvetson’s time value had slid to $2,500.