Saga Furs´ December auction concluded today. Almost 80 buyers participated in the online auction. The purchases of mink, fox and Finnraccoon pelts were to Russia, South Korea, Turkey, Greece, and western fashion industry. On the other hand, purchases of the company´s main market China remained low. Of the 840,000 mink pelts on offer more than a fifth were sold. In total 210,000 fox skins were offered and half of them were sold. The offering of 20,000 Finnraccoon pelts was 100% sold.
The value of Saga Furs brokered pelts was EUR 11 million (12/2020: EUR 28 million).
”The result of the auction met our expectations. For Chinese manufacturers, the December auction normally offers an opportunity for replenishment purchases before the Chinese New Year conclude the retail season. However, the Chinese retail trade is currently suffering from lockdowns caused by the corona pandemic. Other markets are already making purchases for the next season at this time of the year, and they were active. Based on these results, it is not possible to predict how the main selling season for pelts will start. The result shows how dependent we are on the main market China,” says Magnus Ljung, CEO of Saga Furs.
Saga Furs will hold the next auction in March 2022.