Today, 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.
Tennessee Agriculture Commissioner, Charlie Hatcher, will open the event with a welcome to participants. Tennessee has been a forerunner in farmer-friendly legislation, much due to the hard work of the Tennessee Hemp Industries Association (TNHIA) leadership and partners beginning in 2015. Tennessee has more than 3,700 licensed hemp farmers, many of whom have found great success.
"IHAM 2019 continues to help aim Tennessee toward the top of the hemp chain," said Case. "Other southern states have made remarkable progress too, and their crops will be represented at IHAM 2019 as well. This is not only a regional event – it is truly national, and international. Buyers and sellers have registered from across the country and beyond."
The IHAM 2019 schedule has been sequenced according the largest quantities of products to be sold. Day one (Tuesday) 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, OH, and Harvest Analytical of Knoxville, TN. Quality onsite testing is being offered must for bidders to sample material before they buy, confirming COAs that accompany product. There is no charge for buyers to apply for approval, and only a 2% buyer's premium will be paid to IHAM 2019.
"With online bidding, the sky is the limit and buyers should not miss this opportunity," Case said. "Online bidding, alongside onsite bidding, has never before taken place in the hemp/CBD industry, to our knowledge. Hemp is here to stay, and current supply/demand balancing should not dampen the bigger picture. There's still money to be made in hemp and IHAM 2019 will present a great opportunity for many smart investors."
About Southern Hemp Marketplace Southern Hemp Marketplace (SHM), LLC. is the owner of the International Hemp Auction and Market (IHAM) (www.hempauctionmarket.com). The company was formed primarily to help connect buyers and sellers of hemp products, and establish transparent baseline prices for the continent's hemp crop and processed goods. The company recognizes there are many ways to buy and sell hemp, but seeks to level the playing field for all parties. More information can be found at www.hempauctionmarket.com.
About Auction Flex With 4,000+ customers globally, Auction Flex® was founded in August of 2000 by Brandon Harker and Curt Davis in Ocala, FL. From the beginning, the company had one long-term goal: to provide the auction industry's best auction management software and, furthermore, provide an unequalled level of customer service. Auction Flex® auction software and HiBid® internet auction platform are the fruits of that labor and the company's testimonials page provides ample evidence they've come a long way since 2000. The company pledges to its customers to keep Auction Flex and HiBid on paths of continuous improvement to meet their ever-changing needs. More information can be found at www.auctionflex.com and www.hibid.com.