Is The Price For Legal Marijuana In Colorado Too High?

[oscar169]

In case you have been living under a rock the last couple of days, marijuana sales are now legal in Colorado. I read about one store serving over 1,000 customers on opening day. As Russ Belville pointed out, “if each customer bought at least an 1/8th for $40 bucks, that’s $14,000 in tax revenue generated. Off of one store. In one day.” Now imagine when all of the retail outlets open up in Colorado, and Washington, and eventually beyond. That will be a pile of money that is so huge even Kevin Sabet will have to get on board.

Anyone that was following the marijuana sales in Colorado yesterday probably noticed that the reported prices for marijuana sales rose during the day. The first official purchase was by Iraq War veteran Sean Azzariti. His receipt can be seen below:



That’s $59.74 for an eighth of Bubba Kush and a truffle, plus tax. As the day went on, I saw numbers go up over $60 for an eighth. People on the West Coast were blown away by that price. Living in Oregon, I used to be blown away by those prices, but now I talk to so many people via the blog in other states and realize that how you feel about the price in of marijuana in one area depends on where you live.

If you live on the West Coast, you can find cheap eighths all day of top shelf marijuana. $20-30 is normal in Oregon where I live, and can even get cheaper if you have the right friends. So looking at Colorado prices can seem crazy. However, go just one state over to Idaho where my cousins live, and their perspective is way different. A $60 eighth of Girl Scout Cookies sounds like an unrealistically great deal to them, and they are making plans to visit to Colorado ASAP.

How do you feel about a $60 eighth? Keep in mind, I’ve been to Colorado, and they have some of the best of the best. I know when I’m far from home, I don’t have a problem paying a premium price for premium marijuana. Or in very desperate times, even a premium price for medium marijuana. I remember one time when I was in Vegas and was on day four of no weed I bought half a gram for $20 of some solid Kush and was stoked to have it! It all just depends on the scenario I suppose.

 

[jaredman]

I grew up paying 50 an eighth for years. In my opinion that is the price of weed. I think weed is worth whatever people are willing to pay for it. If prices were 100 an eighth people would still buy it. In prison one name brand cigarette is worth ten dollars, a pinner joint is worth twenty dollars. I think that the price should be 50 an eighth nationwide set in stone, people should appreciate all that weed has been through and all it takes to grow well. The knowledge that goes into it is time and time is money. Also I wish people could just realize that no matter what the cost people are going to be buying the weed so why not it be worth alot? If people didn't try to undercut each other and discount it as low as possible and make up for it by selling tons of product it would be really nice. They could still sell tons of product but it would be worth more. I know this will never happen but it would be nice if there was a growers union that could protect the prices of weed.

 

[PButter]

Long as they don't make MORE moves toward eradication of the 'competition,' I don't care what Recreational goes for.

 

[hotRod]

I agree
It's time for the good growers to get paid. All the years underground and taking the risk!!

 

[fractal]

The price gouging was totally uncalled for. I saw that too and was puzzled. The price should be the price. Those fuckers are lucky enough to have gotten licensed to sell cannabis, then they see the crowds and just got greedy. The customers should have burned the stores to the ground after that, IMO.

 

[HeadGrow]

Here in WA all mmj folks are about to get dumped on and the taxes on rec are going to be thru the roof. They're starting off with the same price as CO it looks like, $40 per 1/8 before tax; but are planning on taxing on mulitple levels. We're expecting rec prices to be around $60 per 1/8. But then again, the LCB still hasn't figured out who's going to be allowed to supply the rec market and they're targeting medical first.

 

[fractal]

I know, it is AWESOME. All it will do is strengthen the black market! This gives home growers a couple years more of being able to make a living growing. Possibly might stabilize prices or even raise them. The states are fucking stupid as shit if they think charging 50% more than the going rates is a good idea.

 

[PButter]

Maybe they've run the numbers on just how much the black market brings into their economy.

Also, there is still time to go and burn those buildings down...

 

[kolah]

let the market and the buyers set the price. OTOH I think there needs to be exceptions (for low income folks who need it for medicinal purposes)

 

[HeadGrow]

I still don't get how CO is selling out with the price point as high as $73 an 1/8. Are people paying that much just to get the "thrill" of buying from a store?

I'd also love to hear from someone that's bought the legal weed and can testify to how it compares. I'm still not convinced that the way they're going about it WA the growers will be able to keep up with excellent quality. Growing a 200,000 sq foot grow space to perfection is not the easiest task.

 

[Seamaiden]

let the market and the buyers set the price. OTOH I think there needs to be exceptions (for low income folks who need it for medicinal purposes)

Best post here, IMO.

 

[Texas Kid]

Thank god we live in a free market out here and prices are pretty much goin to be dictated by supply and demand and since there is no supply and outrageous demand it only stands to reason that the prices will go up...all prices will settle in at around $400/oz...street, med, rec, it doesn't matter..nobody in the industry is goin to be price fixing at any price, especailly since you need over a 300 light grow to even consider gettin your 64 license and a 300 light grow will run you about a million bucks to setup and get goin. just no way to keep up with the demand right now...I have people lined to buy every gram I produce at just about any price up to $3,200.00 wholesale right now and they are fighting with each other for a better place in line....keep in mind, 26 licensed stores did over $5million in sales in just under 36 hours of operation and most are now out of product..if you think anybody is goin to lower their prices your dreamin..

 

[mastacheeser]

didnt most of these people just spend a small fortune getting licensed?
gotta pass down the cost some how.

and top shelf is still going at $50-55 per eigth in so cal

 

[boo]

Thank god we live in a free market out here and prices are pretty much goin to be dictated by supply and demand and since there is no supply and outrageous demand it only stands to reason that the prices will go up...all prices will settle in at around $400/oz...street, med, rec, it doesn't matter..nobody in the industry is goin to be price fixing at any price, especailly since you need over a 300 light grow to even consider gettin your 64 license and a 300 light grow will run you about a million bucks to setup and get goin. just no way to keep up with the demand right now...I have people lined to buy every gram I produce at just about any price up to $3,200.00 wholesale right now and they are fighting with each other for a better place in line....keep in mind, 26 licensed stores did over $5million in sales in just under 36 hours of operation and most are now out of product..if you think anybody is goin to lower their prices your dreamin..

a friend of mine in denver says he can't hardly get 1700 per right now...were not talkin street weed, this man is a madly skilled grower whos work is as good as it gets...he's got mebbe 50 lights and has an efficient system but he swears the market is making him look to other resources for income...in my neck of the woods it's 5200 per or go away...it don't figure

 

[oregonized]

It's a Brave New World...isn't it?

 

[oregonized]

I wonder how come noboby told the people on Craigs?You can find anything you need sans a reputable business. How do you stop that, no police force has the time, money or effort to attempt that, okay NSA, but seriously......

Is it illegal for a donation?

 

[kolah]

a friend of mine in denver says he can't hardly get 1700 per right now...were not talkin street weed, this man is a madly skilled grower whos work is as good as it gets...he's got mebbe 50 lights and has an efficient system but he swears the market is making him look to other resources for income...in my neck of the woods it's 5200 per or go away...it don't figure

it's still 3000-3200 lb in my area of CO.

 

[boo]

dunno guys...I see his work and almost consider bring it home, cutting off the lights, and moving that...it's all stellar...

 

[Seamaiden]

That's a great pic! Where'd you find it? That bong's as big as I am!

 

[PButter]

Where the hell did you get that photo!? Hilarious!

Now, lets circulate it around the web and make some trouble for him.

PB