OLYMPIA, Wash. - The Washington State Liquor Control Board (WSLCB) successfully re-auctioned the rights to apply for a spirits retail liquor license at six state-run liquor stores statewide. The sum of individual bids totaled $600,000, with rights awarded to six successful bidders.
The WSLCB ran the auction to re-sell locations whose winners had failed, for whatever reason, to complete the purchase process. A $25 thousand bid deposit was required to participate in today’s auction, up from $10,000 at a previous live auction. Including today’s winners, the WSLCB has generated over $30.5 million dollars by auctioning off former state liquor stores.
Successful bidders earned the exclusive right to apply for a liquor license at the current location within its current footprint. All state store properties are below the 10,000 square foot threshold established by the initiative. Successful bidders will need to secure a lease with the property landlord. If they are unable to secure a lease, they may re-sell their right or request an alternative location within a one-mile radius of the existing location.
The live auction was hosted at the Washington State Liquor Control Board Distribution Center, and conducted by Stokes Auction. Located in Port Orchard, Stokes has been conducting auctions in the Pacific Northwest since 1975.