Island Specialty Timbers (IST) has published the results of their June 2013 log tender. Only one blackwood log was tendered but it achieved a fantastic price for a plain-grain sawlog of $540/m3!!
Yes it was a large diameter log, and log prices are strongly correlated with log diameter. This is because recovery of sawn timber is exponentially correlated to log diameter, ie. a small increase in log diameter can result in a big increase in sawn recovery.
Even remembering that IST is run as a non-profit business this is a great result. If this result provides any indication of general blackwood sawlog open market prices then there is significant opportunity in private investment in growing blackwood, provided that current policy obstructions are removed.