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(Huffington Post)   The pot shops in Colorado are gouging you with inflated prices, and counting on the fact that you're too stoned to notice   (huffingtonpost.com) divider line 261
    More: Obvious, Colorado, Mendocino County, Sacramento News  
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8089 clicks; posted to Main » on 03 Jan 2014 at 2:24 PM (15 weeks ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



261 Comments   (+0 »)
   
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2014-01-03 09:55:25 AM
Freedom isn't free.
 
2014-01-03 09:59:21 AM
That has to be the lamest pot price graph I have ever seen.
 
2014-01-03 10:03:16 AM
I have no idea what pot should cost but I wouldn't buy it if I could. Me and Pot never got along. But do let me know when they open the Coke Bars.
 
2014-01-03 10:08:09 AM
OMG if only there was some Economics 101 graph that could make sense of this phenomenon!

stephansmithfx.com
 
2014-01-03 10:08:45 AM
There's a ton of pent up demand right now, so the retailers are capitalizing on that. In six months to a year I'd expect prices to start to drop as the newness wears off a bit and the retailers start to compete on price.
 
2014-01-03 10:10:16 AM
40 bucks an eighth seems damn reasonable to me.
 
2014-01-03 10:15:38 AM
Funyuns, and pizza delivery prices are the thing to watch over the next 2-4 months..
 
2014-01-03 10:19:26 AM

scottydoesntknow: OMG if only there was some Economics 101 graph that could make sense of this phenomenon!

[stephansmithfx.com image 517x517]


Blah-blah-blah elasticity of demand. Blah-blah-blah dead weight loss.
 
2014-01-03 10:20:12 AM

Mr. Fuzzypaws: 40 bucks an eighth seems damn reasonable to me.


Last week it was 35, on the website I looked at.

But isn't this what we've always said in support of legalizing?  Legalize it, regulate it, tax it.  People will pay or not.  Free market at work.
 
2014-01-03 10:29:01 AM

scottydoesntknow: OMG if only there was some Economics 101 graph that could make sense of this phenomenon!


Actually, I think it'll be pretty interesting in a year or two when the economic studies on Colorado legalization come out. I can't really think of a time when a product was nearly instantly available on the market, with a preexisting wide demand. The data is going to be fascinating.
 
2014-01-03 10:35:12 AM

Angry Drunk Bureaucrat: scottydoesntknow: OMG if only there was some Economics 101 graph that could make sense of this phenomenon!

Actually, I think it'll be pretty interesting in a year or two when the economic studies on Colorado legalization come out. I can't really think of a time when a product was nearly instantly available on the market, with a preexisting wide demand. The data is going to be fascinating.


Ohh definitely. I'm just saying that as of right now, the demand is extremely high while supply is extremely limited. A lot of shops announced they were out by mid-day on New Years. That caused prices to skyrocket. It'll drop back down in a few months, but of course there will be mark ups until supply increases.
 
2014-01-03 10:45:33 AM

scottydoesntknow: OMG if only there was some Economics 101 graph that could make sense of this phenomenon!

[stephansmithfx.com image 517x517]


That about covers it...we're only 3 days in and people didn't expect the prices to be high (no pun intended)?
 
2014-01-03 10:58:02 AM
In fact, prices in legal markets like Denver and Amsterdam may be even higher than in street markets like New York and San Francisco.

Yeah, it's legal, but it ain't a hundred percent legal. I mean, you can't just walk into a restaurant, roll a joint and start puffing away.
 
2014-01-03 12:48:51 PM
The prices will level off once the newness wears off and they get some competition in there.  It's just pent up demand that will be spent eventually.  The state should recognize that as prices come down, their tax revenue will come down drastically also.  Isn't CO projecting over $400 million in 2014 tax revenue from marijuana sales?
 
2014-01-03 01:09:15 PM

Eddie Adams from Torrance: In fact, prices in legal markets like Denver and Amsterdam may be even higher than in street markets like New York and San Francisco.

Yeah, it's legal, but it ain't a hundred percent legal. I mean, you can't just walk into a restaurant, roll a joint and start puffing away.


You can't do that with a cigarette in most places, either.
 
2014-01-03 01:21:07 PM
$40/.0125 oz doesn't seem that unreasonable.  Just wait until McCormick begins marketing pot - it will come in fancy screwtop glass jars, and cost twice that much.
 
2014-01-03 01:26:38 PM

bronyaur1: $40/.0125 oz doesn't seem that unreasonable.  Just wait until McCormick begins marketing pot - it will come in fancy screwtop glass jars, and cost twice that much.


That's horribly unreasonable and a total ripoff.

Now $40/.125 oz sounds much better.
 
2014-01-03 01:31:34 PM

Angry Drunk Bureaucrat: I can't really think of a time when a product was nearly instantly available on the market, with a preexisting wide demand. The data is going to be fascinating.


Probably the end of Prohibition, not coincidentally.

And even if people are paying above "street" level prices for something now, they're not having to deal with the opportunity cost of dealing with criminals or exposing themselves to criminal liability.  There is a lot to be said for that.
 
2014-01-03 01:45:54 PM

factoryconnection: Angry Drunk Bureaucrat: I can't really think of a time when a product was nearly instantly available on the market, with a preexisting wide demand. The data is going to be fascinating.

Probably the end of Prohibition, not coincidentally.


That was my thought too. We have better and faster data collection now, though.
 
2014-01-03 02:03:58 PM

Mr. Fuzzypaws: 40 bucks an eighth seems damn reasonable to me.


Especially with the potency of modern strands.  Back in my hay day, I'd get an eighth for $50 on Friday and be done with it by Monday/Tuesday.  Today, it would probably last me a couple months, but my tolerance is way way down anyway.
 
2014-01-03 02:09:01 PM

factoryconnection: And even if people are paying above "street" level prices for something now, they're not having to deal with the opportunity cost of dealing with criminals or exposing themselves to criminal liability. There is a lot to be said for that.


Yup.  There's a lot of convenience to being able to walk into a shop, see dozens of strains in glass jars with pricing and details like THC content, and being able to make a leisurely decision on what to buy vs hoping your hook up has something good in stock, is answering his phone, and has time for you to stop by.
 
2014-01-03 02:27:03 PM
At least Mexicans aren't paying for Colorado pot with the lives of 1,000's of their citizens anymore. Now if the other 49 states would jump aboard....
 
2014-01-03 02:27:49 PM

bronyaur1: $40/.0125 oz doesn't seem that unreasonable.  Just wait until McCormick begins marketing pot - it will come in fancy screwtop glass jars, and cost twice that much.


Will Badia sell 4 times the quantity for half the price?
 
2014-01-03 02:30:08 PM
Retail businesses have overhead beyond the cost of producing whatever it is they sell.

Personally, I'll be happy to pay a premium to walk into a licensed retail outlet, take my purchase home, and use as intended.   The reason I quit smoking pot was because the skeezers you had to associate with in order to buy it.  "Hey man, you got any?"

I want that shiat on my Amex now.
 
2014-01-03 02:30:35 PM
Dear sweet baby Jesus.  The state 'O Colorado LEGALIZED WEED FOR RECREATIONAL USE and people are biatching about prices?  Will people not be happy unless a thonged Kate Upton drops it off at your house along with a pizza, a bag of doubloons and a b*****b?
 
2014-01-03 02:31:45 PM

fireclown: Dear sweet baby Jesus.  The state 'O Colorado LEGALIZED WEED FOR RECREATIONAL USE and people are biatching about prices?  Will people not be happy unless a thonged Kate Upton drops it off at your house along with a pizza, a bag of doubloons and a b*****b?


Is that an option?   Because I'll take one of those.
 
2014-01-03 02:31:48 PM
it should cost a lot.
 
2014-01-03 02:31:57 PM
images.bwbx.io

THE RENT POT IS TOO DAMN HIGH!
 
2014-01-03 02:32:21 PM
That chart is so full of shiat. A top shelf oz in SF is around $350-400, not under $200 :P

/stoner
 
2014-01-03 02:33:06 PM

Mr. Fuzzypaws: 40 bucks an eighth seems damn reasonable to me.


And it is legal! Yeah.
 
2014-01-03 02:33:07 PM
If it were completely legal, marijuana would sell for less than $5 per ounce.  It's just not expensive to grow.  The price would be along the lines of that for tobacco or oregano or cinnamon.  For the Colorado price to drop that low, there couldn't be too many barriers in the way of growing it or operating a store selling it, though.
 
2014-01-03 02:33:10 PM

Benevolent Misanthrope: Mr. Fuzzypaws: 40 bucks an eighth seems damn reasonable to me.

Last week it was 35, on the website I looked at.

But isn't this what we've always said in support of legalizing?  Legalize it, regulate it, tax it.  People will pay or not.  Free market at work.


Well, I'm on board with legalize, but sin taxes I can't support.
 
2014-01-03 02:33:32 PM

Rent Party: Retail businesses have overhead beyond the cost of producing whatever it is they sell.

Personally, I'll be happy to pay a premium to walk into a licensed retail outlet, take my purchase home, and use as intended.   The reason I quit smoking pot was because the skeezers you had to associate with in order to buy it.  "Hey man, you got any?"

I want that shiat on my Amex now.


I'm pretty sure drug cartels have a lot of overhead, too.
media.tumblr.com
 
2014-01-03 02:33:34 PM

Mr. Fuzzypaws: 40 bucks an eighth seems damn reasonable to me.


Seems 20 bucks cheaper than what I pay in Indiana.

/moving away
 
2014-01-03 02:34:04 PM

fireclown: Dear sweet baby Jesus.  The state 'O Colorado LEGALIZED WEED FOR RECREATIONAL USE and people are biatching about prices?  Will people not be happy unless a thonged Kate Upton drops it off at your house along with a pizza, a bag of doubloons and a b*****b?




4.bp.blogspot.com
 
2014-01-03 02:34:37 PM

Lady Indica: That chart is so full of shiat. A top shelf oz in SF is around $350-400, not under $200 :P

/stoner


Glad I read the whole thread before posting (for once).

Um, what she said.
 
2014-01-03 02:35:07 PM
Highest seasonal demand they are likely to experience ever (first new years the product is available) and they are still in line with other markets legal  (Amsterdam) and otherwise (Brooklyn lol). The premium is explained by information asymmetry: People are willing to pay more for a legal product from a reputable establishment with a storefront than they are for some guy on a street corner with no fixed address,

Looks totally reasonable.
 
2014-01-03 02:35:41 PM

Benevolent Misanthrope: Mr. Fuzzypaws: 40 bucks an eighth seems damn reasonable to me.

Last week it was 35, on the website I looked at.

But isn't this what we've always said in support of legalizing?  Legalize it, regulate it, tax it.  People will pay or not.  Free market at work.


Weren't they (or someone) campaigning to regulate/tax the same as alcohol?  What's the tax on alcohol?  Is it similar?

I'm in favor of taxing pot, absolutely, but let's not go crazy here.
 
2014-01-03 02:36:14 PM
Prices at some of the dispensaries have been closer to $70 an eighth. You can still find a guy to buy from off craigslist of equal quality for ~$30 an eighth. This is more due to a limited number of the stores being granted licences for retail. Once more are approved the price will drop back down to ~$30+tax. The same thing happened when the medical dispensaries first started to be a big thing. Price at those was about the same as retail now and dropped precipitously once there were more suppliers. I just hope the damn lines die down soon. I'm not sure about today but even yesterday there were lines out the door around 20 people long of pretty much every retail dispensary I saw on my way home from work.
 
2014-01-03 02:36:30 PM
Strange.

I'm not hearing a lot of resistance to State's Rights anymore...
 
2014-01-03 02:37:19 PM

fireclown: Dear sweet baby Jesus.  The state 'O Colorado LEGALIZED WEED FOR RECREATIONAL USE and people are biatching about prices?  Will people not be happy unless a thonged Kate Upton drops it off at your house along with a pizza, a bag of doubloons and a b*****b?


CSB/
Had a friend drop by my place with a fresh hot pizza and a quarter oz in the box, because I had a date and was snowed in. I'm way out in the country and she was knocked out that I got "special Delivery"
 
2014-01-03 02:38:26 PM

Eddie Adams from Torrance: In fact, prices in legal markets like Denver and Amsterdam may be even higher than in street markets like New York and San Francisco.

Yeah, it's legal, but it ain't a hundred percent legal. I mean, you can't just walk into a restaurant, roll a joint and start puffing away.


You know what the call a Quarter pounder in France?
 
2014-01-03 02:38:31 PM
Meh.  Buying illegally has the hidden cost of a potential criminal record.
 
2014-01-03 02:38:34 PM

deadsanta: Highest seasonal demand they are likely to experience ever (first new years the product is available) and they are still in line with other markets legal  (Amsterdam) and otherwise (Brooklyn lol). The premium is explained by information asymmetry: People are willing to pay more for a legal product from a reputable establishment with a storefront than they are for some guy on a street corner with no fixed address,

Looks totally reasonable.


and in a few months those who want to grow their own will be doing so and that demand will cease to be.
 
2014-01-03 02:38:39 PM
... The APS meeting this march is going to be very interesting and amusing, I think.

/This year's American Physics Society meeting is in Colorado
//Never smoked MJ, mind, and I don't intend to.
///Mostly because I suspect I'm the kind of person that would become REALLY paranoid. =(
 
2014-01-03 02:38:43 PM
Not be arrested and have your life ruined pot is worth a premium.
 
2014-01-03 02:39:21 PM

ShawnDoc: factoryconnection: And even if people are paying above "street" level prices for something now, they're not having to deal with the opportunity cost of dealing with criminals or exposing themselves to criminal liability. There is a lot to be said for that.

Yup.  There's a lot of convenience to being able to walk into a shop, see dozens of strains in glass jars with pricing and details like THC content, and being able to make a leisurely decision on what to buy vs hoping your hook up has something good in stock, is answering his phone, and has time for you to stop by.


Pot dealers: either totally unreliable or simply too nice to bother too often.
 
2014-01-03 02:39:59 PM

shower_in_my_socks: At least Mexicans aren't paying for Colorado pot with the lives of 1,000's of their citizens anymore. Now if the other 49 states would jump aboard....


Oh, I'll give you the Patriot Act version of why drugs need to remain illegal.

If drugs become legal then cross border shipments of them will dry up. Then declining bust reports from ICE get their funding cut. Suddenly crates full of AK-47s will pass quietly, without alerting anyone because they don't reek like the sticky-icky. Is that what you want, socks? Crate loads of AK-47s being dealt on the street corners TO CHILDREN!
 
2014-01-03 02:40:14 PM

Hobodeluxe: deadsanta: Highest seasonal demand they are likely to experience ever (first new years the product is available) and they are still in line with other markets legal  (Amsterdam) and otherwise (Brooklyn lol). The premium is explained by information asymmetry: People are willing to pay more for a legal product from a reputable establishment with a storefront than they are for some guy on a street corner with no fixed address,

Looks totally reasonable.

and in a few months those who want to grow their own will be doing so and that demand will cease to be.


I know right? I wish I could find a store to sell beer now that everybody homebrews.
 
2014-01-03 02:40:43 PM
I don't smoke, never wanted to, and I have a decent job teaching, but, man, if my state legalized sales, I would open a shop in a heartbeat.  There's serious money in them hills.
 
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