First Pot Auction In The U.S. Earns A Whopping $600,000 For Small Farmer In Washington (VIDEO)


The first pot auction ever held in the United States took place on Saturday at Fireweed Farm, outside of Prosser, Washington. Owner Randy Williams received his license as a recreational marijuana grower from the state last May and wasted no time getting his crop planted.

The farmer’s goal was to ‘get rid of it all quick’.

The pot was harvested in September and October and 300 pounds went to auction. Williams chose this unique way of unloading his product because he wanted to “get rid of it all quick.” His goal is to have more time with his grandson rather than spend it bagging the herb into one gram packages.

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The weed sold for an average of $3 a gram. At retail, it’ll cost about $25 a gram. Even though Williams hoped for $1,000,000, he said he was satisfied with what he got.

The pot auction was overseen by two officers from the state Liquor Control Board. One of them, Lt. Jeremy Wissing, said:

I’m seeing a well-organized event. It isn’t a circus. I’m not seeing open consumption of marijuana.

Actually, no sampling of the product was allowed — only looking and sniffing. One of those who left the auction empty-handed was Nazareth Victoria, a licensed marijuana processor, who said:

To me, smoking the product is the ultimate test to tell you the quality.

Evidence of the pot’s quality came from a state-certified laboratory, Confidence Analytics. Buyers were able to see details of the analysis, including potency profiles. Thirty-one varieties were available under such colorful names as Deep Purple, Girl Scout Cookie, and One Arm Bandit. All the inventory was listed by name at the farm’s website when the pot auction was announced.

The first pot auction attracted buyers, supporters, and lots of media.

There were plenty of buyers for the product, sold in lots that ranged from 203 to 2,264 grams, as well as a swarm of media. Some of the attendees were simply there to show support for Williams or to learn more about the process for their own businesses.

Williams was pleased enough with the result that he’ll stay in the game, saying:

I’m excited to be a part of it. The marijuana community is a good community.

Come May, his next crop will be in the ground and there will be more auctions in the future — for Washington and, no doubt, elsewhere in the country.

Watch a video of the country’s first pot auction here:

[youtube http://www.youtube.com/watch?v=jpTxakhVApI?rel=0]
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