Market uncertainty clearly reflected in the season’s first live auction

Saga Furs auction kicked-off today after a very difficult beginning of the season. While trade welcomed the first live auction and the chance to inspect the goods, the severe corona travel restrictions effected the auction participation, especially from China. Saga had close to 50 buyers, mainly from Europe, in attendance.

Purchases were made to South Korea, Russia and China were the bidding was done by the Chinese companies’ EU-based employees. Today’s offering of mainly Pearls and Whites met a very selective demand.

The auction will continue tomorrow and Wednesday with Silverblues and North American offering. The next auction report will come out on Wednesday.