Quick summary: In the wake of initiative 1183, which privatizes Washington's liquor sales, the state is currently auctioning off its liquor stores. (Kinda. The high-bidders will win the right to apply for a liquor license to sell spirits in a shop under 10,000 square feet—an exception to 1183's 10,000 square-foot minimum—provided the landlords agree. And if the landlord doesn't agree, the bid-winner can open another store under 10,000 square feet within a mile radius. Simple, right?) The auction will sell the state's 167 liquor stores to individual bidders or all of the stores in one big bid—whichever makes more money.

The going conspiracy theory: Costco or BevMo or one of the other big-box stores will buy 'em all up then shut 'em down to kill competition.

The update: The bid for all the leases is up from yesterday's paltry $20,000 to $300,100! (Or, $1,797 per store.)

Most of the individual stores are languishing around their $1,000 minimum bid, but a few are showing signs of life—store number 182 in the Central District is going for $40,100. (Its gross sales last year were $3.5 million. This one also has the most bids: 31.) The store on 4th Ave in SoDo is going for $27,100. (Its gross sales in 2011 were $19 million, in the top 10.)

Who's bidding on these? Who knows? They have names like ephrem21398, Bigdan123456, and BillGates. Follow the hot capitalist action right here.