As the population of Colorado continues to grow, especially in the northern half of the state, the demand and price of water continue to grow. That was evident on Wednesday as one Northern Colorado family sold their 90 shares of rights to the Big Thompson River for nearly $5 million at auction.
“It is crazy to see what water has done, what Colorado has done,” said Scott Shuman of Hall and Hall Auction.
Shuman auctioned off the 90 shares, previously owned by Carol Yoakum and her late husband.
As recently as the 1990s, some water shares in the region were being sold for around $1,600, according to local farmer and water rights owner Don Martin.
“Everything is going up in price. But, water, people are figuring out water is going to be really scarce,” Martin said.
Martin was one of dozens of prospective buyers who attended the auction at the Boulder County Fairgrounds. There were developers, farmers and employees of local municipalities seeking to buy a stake in the river that flows from Estes Park east through Loveland and more.