Water is an integral part of our lives. Our bodies are made up of about 60% of it making water one of the most important elements in our functioning bodies. Which makes it a pretty hot commodity when it comes to the demand for water.
As our climate changes, we notice a shift for the need of water and realize the lack of it. Agriculture vs. cities. Who needs it more? Who wants it more? Who’s willing to pay the high price for it?
In a recent auction, water was up for bid. 400 acres, with water rights, for $12.6 million was the final selling value. I’ve heard many auctioneers say, ‘You name, we can auction it’ but I had never thought of water being something to auction. I guess you really can auction anything off.
As land becomes more arid and water dries up, do you think we’ll see more water auctions? Not only in the United States but all over the world? Next week, will you see an auction advertisement for a fresh water iceberg? Probably not. But as water becomes even more valuable and less available it’s very probable we will see more and more water auctions.
The very interesting full article can be found here showcasing information about the need for water, and how this need is trying to be filled through auctions.