The State of Washington held it’s first marijuana auction, which is the first of it’s kind from what I can tell. A marijuana grower harvested over 300 pounds of marijuana and put it up for auction. The auction was only open to the media and and licensed marijuana processors and retailers. While the auction didn’t bring in as much as some had predicted, it still brought in a significant amount of cash. Per the Tri City Herald:
About 300 pounds of dried flower with names like Girl Scout Cookies, One Arm Bandit and Purple Kush sold for an estimated $600,000 to recreational retailers and processers for just dollars a gram.
The auction at Fireweed Farms in Prosser was limited to licensed processors and retailers and media members. It was monitored by at least two state Liquor Control Board officers.
Bidding took place under a black tent fronted by tall heaters and an auction table where bidders could smell plastic bags of buds before offering a bid.
My uncle was at my house yesterday fixing my car and he asked, ‘Did you hear about that marijuana auction in Washington? How do we get in on something like that!’ So while $600,000 might not seem like a lot to some, it’s still a bunch of money to many. That averages out to roughly $4.40 per gram (unlike what the article I referenced said), which is a solid return for outdoor marijuana. I wouldn’t be surprised to see more marijuana auctions pop up in Washington in the future.