As America begins to make a national push to promote the widespread acceptance of marijuana, lucrative events have begun to take place in states that have already legalized cannabis for marketing and consumption. For example, in the state of Washington, the first ever ‘pot auction’ was held last week solely for licensed processors and retailers. In this auction, a total of 300 pounds of big name strains such as Girl Scout Cookies, One Arm Bandit and Purple Kush were sold collectively.
According to Tri-City Herald, the auction was conducted in a professional manner. Buyers placed bids on certain “lots” of strains in a traditional auction fashion. Once a buyer won a bid, his/her name was then recorded, however, the buyer wasn’t allowed to pick up that specific purchase until the next day either via pick-up or shipment. Tri-City Herald reports that all purchases had to be kept in a 24-hour quarantine surveillance by Fireweed Farms (the host of this auction located in Prosser, WA).
Randy Williams, Fireweed Farms owner, estimated that approximately $600,000 was made from last week’s auction. Moreover, that the big name strains he sold went for only $3 a gram. Likewise, the auction was obviously lucrative for both the buyer and the seller. In fact, $14,000 was raised for a local school solely off of 11 pounds of sold marijuana. As a result of the revenue and booming business, Williams is confident that there will be more state auctions similar to the one in Prosser. Check out the video below to get an idea of what went down at last week’s auction.