Fair enough about cartels. But remember, the same folks who make Knob Creek make some pretty shitty booze, too. The euphoria business is well diversified. I imagine that many international and multistate producers will skip the CO market so as not to reveal themselves in a market that is likely to see a lot of new suppliers.
I guess one of the things I was trying to say is that producers of the very best of a given commodity are unlikely to be relative newbies in a single jurisdiction that only recently allowed a quasi-legal market. There are some very sophisticated growers out there in the world, and they make money on the high end even in places that have a quasi-legal market. In CA, they can reap millions from a single acre of production, and I'm talking about the public land kind of farm whose product does not make it into the legitimate side of the business. On the low volume side, farmers markets are interesting in the way that they often have food growers who offer high quality goods in an unregulated environment, and the costs vary widely. At the end of the day, the legal market price will be determinative of the extent of the black market's market share, and how it is manifested. With the changes in the law, the dynamic in CO will surely be different from that in CA.
When a resolute young fellow steps up to the great bully, the world, and takes him boldly by the beard, he is often surprised to find it comes off in his hand, and that it was only tied on to scare away the timid adventurers. -RWE