Auction to Serve Hemp, CBD Extract Buyers

The Southern Hemp Marketplace (SHM), LLC, announced it will open its International Hemp Auction & Market (IHAM 2019) to worldwide hemp and CBD extract buyers through HiBid webcasting, an integrated web service and internet bidding solution from Auction Flex. With years of experience facilitating thousands of successful auctions, Auction Flex is a market leader in auction software for live auctions. Auction Flex’s capabilities include cataloging, clerking, cashiering, accounting, and more. IHAM 2019 is a first-of-its-kind event set for November 19-21 in Franklin, Tennessee.

“We are pleased to be able to facilitate the needs of buyers throughout the USA and around the world. Since announcing registration for IHAM 2019 only two months ago, we’ve received hundreds of applications to sell lots of hemp biomass and smokable flower totaling almost four million pounds,” said Mark Case, Chief Executive Officer (CEO) of Southern Hemp Marketplace. “Given recent industry dynamics, farmers more than ever are looking for a venue to secure buyers for their crops, so we’re teaming with Auction Flex and its HiBid platform to expand the IHAM 2019 buyer base to wherever the internet can be found. They will no doubt make an outstanding partner in our upcoming live auction staged in the Heartland of Hemp.”

With the auction only a few days away, the IHAM 2019 staff has been working overtime in recent weeks to provide a great seller and buyer experience. Hemp growers from states across the country will begin delivering material Sunday, November 17, and continue through Monday November 18, in preparation for an anticipated start around 10:00 a.m. (CST) on Tuesday, November 19.

Day one (Tuesday, Nov. 19) of IHAM2019 will host sales of hemp biomass used for CBD oil extraction. Day two (Wednesday) will be used to sell smokable hemp flower. And day three (Thursday) will conduct transactions for CBD extract blends. Buyers can examine many varieties and many quality grades of hemp, as well as varieties and grades of CBD extract blended products along with isolate. Some participants will sell their entire crops onsite, and/or large inventories of CBD oil blends, while others will sell by representative samples. Those selling using samples will have fifteen days to close final sales with the buyer after the auction.

All products must be accompanied by Certificates of Analysis (COAs) from licensed third-party labs, and onsite testing will be provided by Eurofins Scientific of Cincinnati, Ohio, and Harvest Analytical of Knoxville, Tennessee. There is no charge for buyers to apply for approval, and only a 2% buyer’s premium will be paid to IHAM 2019.