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Price reversals

Autumn fur auctions inCopenhagen and Helsinki have recently been completed.

Unexpectedly large number of buyers came to September auction in Copenhagen, which resulted in increased demand and rising prices for mink. It was 10 to 30% rise on various items compared to previous auctions.

        Most rise in price mink skins of the following colors had: white - 25%, pearl - 15%, glow - 20%, brown - 20%, mahogany - 30%, black - 10%.

        At the auction in Helsinki very few mink skins were exposed , and mainly fox, blue fox and raccoon were sold. Blue fox went up by 10-15%, and silver fox - 5-10%. On the other furs prices have not changed.

        It is difficult to talk about sustainability on the price reversal. Now one can only conclude that the skins are worth as much as in February this year. Judging by the fur industry experts predictions prices will continue to rise.

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"Auction of the Century" Results

From 4 to 21 March2014 inFinlandthere was the largest in the fur history auction, which was called the "auction of the century". Under the same roof with their goods 3 auctions gathered: Finnish SAGA, American Legend and Fur Harvesters.

 The collection was presented by 5.45 million mink, 800 thousand foxes, 545 thousand wild fur skins of various types and 94 thousand skins of other species including Finnraccoon, Afghan Persian lamb and chinchilla. The action had record number of participants - nearly 1,000 people from different countries.

 Continuing the trend of this year's auctions inCopenhagenandToronto, the level of sales inHelsinkiwas at 100% in almost all positions with the exception of certain types of some wild furs provided by the Americans.

Overall, the auction was held with decrease in average prices for furs by 35-50% comparing the prices of the previous year and an average of 15% lower than the prices of auctions held inCopenhagenandToronto. Mink had a good level of demand especially skins with short awn type Velvet, while items with a longer hair has fallen significantly in price.

 Based on the results of sales here is the dynamics of prices compared to the last auction held inCopenhagenandTorontoon similar types of fur.

 Table 1. 

Farmed mink 

Copenhagen

Saga

Dynamic

 

February 2014

March 2014

 

Name 

Avg. price $

Avg. price $

% +/-

Black M. REGULAR

66,4

52,16

-21     

Black Velvet M.REG.

79,4

68,54

-14     

Black F. REGULAR

41,1

35,1

-15     

Mahogany M. REGULAR

57,3

49,12

-14     

Mahogany Velvet M. REG

76,9

67,07

-13     

Mahogany F. REGULAR

34,7

30,74

-11     

Mahogany Velvet F. REG

53,5

45,46

-15     

Silverblue M. REGULAR

57

65,08

 14     

Silverblue Velvet M. REG

75,9

85,49

 13     

Palomino M. REGULAR

91,3

70,98

-22     

Palomino Velvet M. REG

105,9

91,88

-13     

Palomino F. REGULAR

60,3

48,21

-20     

Palomino Velvet F. REG

67,2

64,76

-4     

Brown M. REGULAR

59,3

48,99

-17     

Brown Velvet M. REG

75,8

65,67

-13     

Brown F. REGULAR

38,7

33,28

-14     

Brown Velvet F. REG

51,9

45,94

-11     

Glow M. REGULAR

60,3

47,67

-21      

Glow F. REGULAR

39,1

32,99

-16     

White M. REGULAR

90,05

77,72

-14     

White Velvet M. REG

102,8

93,17

-9     

White F. REGULAR

60,6

50,48

-17     

White Velvet F. REG

73,9

71,18

-4     

Pearl M. REGULAR

80,7

73,5

-9     

Pearl Velvet M. REG

93,5

86,98

-7     

Pearl F. REGULAR

53,4

49,06

-8     

Pearl Velvet F. REG

67,2

62,04

-8     

 

 

Avg. Decrease%

-11     

From the data of Table 1 it can be concluded that the mink prices compared toCopenhagendecreased on average by 11%. Mink with short awn lost less in price than with long awn. The largest price decline was observed in male mink Palomino, it fell from 91.3 to $ 70.98 ($ 22% ) in March, females Palomino lost in the price 20% and decreased from 60.3 to 48.2 $. The price of mink pelts of Black males dropped from 66.4 $ to 52.16 $ (21%).

The same was with the price on the male mink pelts Glow - from 60.3 to 47.7 $.

 To a lesser extent lost mink pearl lost in the price, an average of 8%.

 Mink males Silverblu increased on 14% - from 57 to 85.49 $.

 Blackglama mink has now been sold at an average price of $ 76.15 for a size 0, which is about -5-10% higher than mink black NAFA. The rest of the color types of mink American auction ALC sold at auction in February NAFA with minor fluctuations to +/- 5%.

 Table 2

Farmed longhaired fur

% Sales

2013

2014 March

Dynamic

Name

2014 March

Avg. price $

Avg. price $

% +/-

Silver Fox REGULAR

91

192,99

156,42

-19     

Blue Frost Fox REGULAR

88

180,75

151,63

-16     

Gold Fox REGULAR

16

303,43

286,08

-6     

Gold Cross Fox REGULAR

32

223,78

165,68

-26     

Smokey Fox REGULAR

83

185,32

158,34

-15     

Arctic Marble FoREGULAR

93

230,98

196,51

-15     

Platinum Fox REGULAR

70

230,73

173,1

-25     

Finnraccoon REGULAR

100

254,77

287,39

 13     

White FinnraccooREGULAR

100

225,11

228,18

 1      

Arctic FinnraccoREGULAR

100

184,75

244,55

 32     

Blue Shadow Fox REGULAR

100

240,88

221,69

-8     

Shadow Blue FrosREGULAR

63

244,5

150,11

-39     

Arctic Marble FrREGULAR

63

204,79

162,32

-21     

Golden Island FoREGULAR

99

322,58

192,09

-40      

Fawn Light Fox REGULAR

99

281,47

205,94

-27     

Blue Fox REGULAR

99

226,49

193,52

-15     

Table 2 shows the results of long-haired fur sales at the auctions  of SAGA in 2013 (December and September), depending on the availability of goods and SAGA auction in March. Based on the sales results and data tables it can be concluded that the merchants approached selectively and carefully in purchasing of long-haired fur . The greatest demand was Raccoon pelts. They no were sold at 100%. Regular skin Raccoon category was sold for $ 287.39 avg. which is 13% higher than in 2013 - $ 254.77. Most of all the price fell for foxGoldenIsland, at 99% level of sales, decreased in price by 40% compared with 2013 year from $ 322.58 to $ 192.09. Least of all Blue Shadow Fox lost in price - from 240,88 $ in 2013 to $ 221.69 (8%) and was sold out at 100%.

 Very low level of sales was with the Gold Fox - of 286 million was sold only 16% for $ 151.3 per pelt. ( down 6%)

 Silver fox was sold at 91% for $ 156.42 per skin, which is 19% below the level of 2013.

Table 3

Wild fur

%Sales

NAFA feb 14

SAGA mar 14

Dynamic

Name

March 2014

Avg. price $

Avg. price $

% +/-

Beaver western lumber

76

26,7

28,62

7

Beaver eastern lumber

75

22,5

23,73

5

Canadian sable

75

141,93

116,4

-18

Otter

81

65,46

68,62

5

Fisher

65

115,36

97,87

-15

Lynx

91

162,29

164,67

1

Lynx cat

100

188,53

209,29

11

Muskrat

98

11,42

10,65

-7

Red fox

91

48,27

43,6

-10

Coyote

45

56,68

56,36

-1

Raccoon

60

18,38

17,25

-6


In Table 3 we compare the dynamics of average prices on the wild furs in comparison with the previous auction, NAFA and Fur Harvesters (held in the framework of the auction SAGA). Based on sales, we can conclude that the buyers were selective. Most of all, the price has fallen for Canadian sable and fisher. Canadian sable was sold at an average price of $ 116.4 per pelt, which is 18% lower than the at NAFA. Fisher dropped to $ 115.36 per pelt (15%) and was sold at $ 97.87. Also 7% drop for muskrat and red fox by 10%. Lynx was sold at the same prices as at NAFA - $ 164.67, which is only 1% higher.The same situation with coyote - $ 56.36 per pelt, which is only 1% lower. Raccoon dropped 5% and was sold at $ 17.25 per pelt.

 

Lynx cat was sold at 100% on the price level of the previous year, but 11% above the level of NAFA, when comparing average prices for Canadian lumber. The average price per pelt was $ 209.29. Beaver and otter slightly increased in price by 5-7%.

 Conclusion:

 The March auction inHelsinkishowed once again that despite the warm winter of 2013-2014 and the unstable political and economic situation in the world, the demand for fur has not dried up. This is evidenced by a record number of customers and a high percentage of sales. However, the buyer comes to product selectively. Substantially all of the farmed mink had good demand and had almost 100% sales, which can not be said about the long-haired furs. All fur was sold with reduction in the area of ​​11-15% compared to the last auction inCopenhagenandToronto. Awn length of mink is still the main factor determining the price of skins of the same color type.

 Buyers approached very carefully in wild fur purchasing, and despite the fact that it was not sold 100%, there was a low price decline, and some of the positions even increase.