The value of the sales brochure of the season exceeds the level before the pandemic
In total, more than 100 Active bidders participated in the September online auction, held between 9-16 of the month, which was also her last season for Saga Furs.
After the significant increase in mink prices during this auction period, the company as the market leader chose to protect the price level to stabilize it. For this reason, sales rates of lowgrades and breeders were higher than, what of normal qualities. The 2,5 millions of mink furs offered were sold at a rate 70% and prices doubled compared to last year's auction.
The value of the furs auctioned at the September auction rose to 59 million euros (9/2020: 72 million euros). The value of brokerage this season has risen to 392 million euros (for the previous season 157 million euros). During this season, the company sold 8,2 millions (2019/2020: 7,4 millions) mink furs and 1,6 millions (2019/2020: 0,5 millions) fox and Finnraccoon furs. A significant number of mink furs offered for sale were carried over to the following financial year. As a result, Mink farming returns to profitability, while the profitability of fox breeding is moving in the right direction.
"This auction completes a successful sales period during which the production of mink returned to profitable levels.. For fox producers, the situation is not good yet, although at the end of the season a profitable level has already been reached. The improvement is also reflected in the fact that the value of sales brokerage is now higher than pre-pandemic levels. ", says Mr.. Magnus Ljung, CEO of Saga Furs.
Blue Frost fox were sold at a rate 100%
The auction started with the offer 248.000 normal quality Blue Fox fur, of which the 35%. China remained the dominant buyer country, with support from other markets, mainly in the smaller sizes whose sales percentage rose to 70%.
Saga Furs has decided to protect the market and keep price levels stable with the levels of its previous auction.
The Blue Lot fox Top Lot was bought by Fur Finland for Mr.. LIU Tingle από την Tongxiang City Chengqin Fur.
The offer consisted of 75.000 Blue fox, 50.000 Blue Shadow fox και 50.000 Blue Frost fox, in the majority of lowgrades and breeders.
Blue fox lowgrades were sold at a rate 74% in a good competitive climate for some segments, resulting in its total sale 46% for Blue fox during the first two days. China Remains Dominant Market With Good Support From Competitive Turkey.
Blue Shadow fox sales followed the same pattern as Blue fox: high sales rates to lowgrades and breeders and lower to regular quality fur. There was intense competition in the lowgrades of Blue fox and Shadow fox. As a result, in many cases lowgrades had higher prices than normal fur coats of the same size.
Blue Frost fox were sold almost at a rate 100% at increased prices and under good competition. The prices of Blue Frost fox exceeded the prices of Blue fox.
Saga Furs protected the price level of fox fur
At Saga Furs´ Fox Online Auction, offered in total 580.000 Fox and Finnraccoon furs and sold more than half.
"The pandemic has not yet subsided, hence the trade in furskins and furs as a whole, started slowly in key markets. Under these circumstances, the company decided to protect the price level, especially since only a small number of normal quality fur was left unsold ", says the CEO of Saga Furs,K. Magnus Ljung.
The offer of Blue fox and Blue Shadow fox of normal quality, sold at one third of the quantity and at a stable price level compared to the June auction, while lowgrades were sold at 80%. Blue Frost Fox was sold at a rate 100% and at increased prices.
The online auction of Saga Furs fox ended with the offer 30.000 Silver fox, and 37.000 Finnraccoon fur. The main purchasing countries were China, Turkey and Russia.
Arctic Marble Frost and Fawn Light had good sales, however Silver fox as well as mutant foxes met selective demand.
Finnraccoon were sold at a rate 84% and at constant prices. White Finnraccoons were sold as a percentage 100% and with rising prices.
In total, the sale of Foxes and Finnraccoon was completed with liquidation over it 50% quantities and fixed prices.
Increased demand for lowgrades and breeders
The online offer of mink started with the offer 493.000 male Brown and Mahogany. The offer consisted mainly of lowgrades and breeders sold as a percentage 100%. The limited quantity of normal quality furs offered offered resistance, resulting in the European collection being sold at a percentage 85% and the North American Collection by 56%. The main buyer country was China with some support from other markets.
Comparing this year's results with the same offer in September 2020, we can clearly see the impact of regained confidence in the market throughout the season.
The auction of the offer consisted mainly of breeders and their lowgrades 375.000 Brown females, Mahogany, Black and Pastel mink as well as the North American collection which included Pastels and a limited edition BLACKGLAMA mink, sold at a rate of almost 100%. The main buyer was again China, with support from Greece and other markets.
The offer of 525.000 White, Pearl and Palomino mink from European and North American collections, mainly lowgrades and breeders, had good sales rates, while a small quantity of normal quality leathers was offered which met resistance. The main buyer country was again China
The tender 450.000 Silverblue and Sapphire, as well as North American mutant mink had high sales rates in lowgrades. Normal quality ones were sold selectively. Silverblue's total sales were over 50%.
Silver Cross had high sales rates, while demand for other types was selective.
We look forward to seeing you at the first auction of the new season, in December.