The Forest Products Commission is planning to log the forest as part of next year's harvest plan.
There is concern the logging would increase salinity problems around the Wellington Dam and affect the biodiversity of the area.
Campaign coordinator Peter Murphy says recent costing figures produced by a Margaret River businessman have valued the proposed logging area to be worth less than $30,000.
Mr Murphy says he will present a proposal to the State Government to buy the rights to conserve the area.
"There's been a long drawn community battle to save Arcadia. It's a very popular piece of forest in the Wellington catchment and people are now saying they're willing to put their money where their mouth is and protect this beautiful ecosystem," he said.