16.06.2023
Day 9, Stock Exchange release 16 June 2023 at 18.40 EET
Saga Furs’ June auction brokerage sales was EUR 111 million
Saga Furs’ June auction concluded today with the sale of fox pelts. More than 230 buyers participated in the auction, and the major sales went to the company’s main market, China. Purchases were also made to South Korea, Türkiye and the Western fashion industry.
Of the 5 million mink pelts offered at the auction, 76% were sold, and of the more than 500,000 fox and Finnraccoon pelts about 60% were sold. On average, prices decreased from the March auction by 8% for mink and 17% for fox pelts, of which 5 percentage points were caused by the weakening of the Chinese yuan. The value of the auction’s brokerage sales was EUR 111 million (6/2022: EUR 92 million). After the June auction, Saga Furs has sold as many mink pelts (8.2 million) as during the entire previous financial year, although we still have an offering of 4 million mink pelts in the September auction. The situation is more difficult for fox pelts, even though more pelts have been sold in the current financial year compared to the comparison period.
“We were anticipating that the sale of fox pelts would remain subdued and the price levels clearly insufficient. In addition to the prevailing caution in the Chinese market, the situation for fox pelts has long been difficult, caused by the low interest in fur accessories,” says Markus Gotthardt, CEO of Saga Furs.
Saga Furs will publish the half-year financial bulletin for 1 November 2022 – 30 April 2023 on Thursday 29 June. The company will organise the next auction in September 2023.
Day 9 report / 16 June 2023
On the concluding day of the Saga Furs June auction, we had 350,000 Blue fox pelts on offer.
- Today’s offering was 55% sold at easier prices
- Main buyer today was China with support from European countries and South Korea
We want to thank the around 240 buyers who attended the auction. As always, we are looking forward to seeing you again in September!
Day 8 report / 15 June 2023
During the two final days of the Saga Furs June auction, we are offering foxes and Finnraccoons. Today, we started the auctioning with 140,000 foxes and 23,000 Finnraccoon pelts.
- Blue Shadow fox pelts were 70% sold
- Blue Frost and Silver fox collection were both 60% sold
- Finnraccoons were 55% sold
- All of the above were sold at easier prices
- On sale were also a collection of different mutation foxes
- China was the main buyer, with support from Türkiye and other European countries
The Silver Fox Top Lot was purchased by Shin Kosmisch on behalf of Fire Lady Fur, fashion brand in China.
Tomorrow we will conclude the auction with the sale of 350,000 Blue fox pelts.
Day 7, Stock Exchange Release / 14 June 2023 at 16.40 EET
3.8 million mink skins were sold at the Saga Furs auction
The Saga Furs mink auction, which started on Thursday 8 June, concluded today, Wednesday 14 June. Of the 5 million mink pelts offered at the auction, 76% were sold. The price level fell in euros on average by about 8% from the March auction, but only about 4% in Chinese yuan, the currency of our most important market.
More than 220 buyers participated in the auction, and the major sales went to the company’s main market, China. Purchases were also made to South Korea, Turkey and to the Western fashion industry.
“The sales volumes of the mink auction were in line with our expectations. In recent international auctions, the prices of mink pelts were falling, and the trend continued here. The recovery of the Chinese economy from the long pandemic has been slower than expected, and caution is in the air in the market,” says Markus Gotthardt, CEO of Saga Furs.
The auction continues until Friday 16 June with the sale of Finnraccoon and fox pelts. After the auction has concluded, the company will issue a stock exchange release on the entire auction.
Day 7 report / 14 June 2023
Saga Furs mink auction concluded today with the offering of various Cross type mink pelts.
- The collection of 150,000 Silver Cross pelts was 65% sold at slightly easier prices
- The collection of 80,000 Black Cross pelts and the rest of the Cross mink collection was 85% sold
- China was the main buyer, with support from South Korea
The auction continues until Friday 16 June with the sale of different types of foxes and Finnraccoon.
Day 6 report / 13 June 2023
The mink auction continued today with the sale of Brown and Mahogany female mink pelts, in addition to the intersorted Black mink collection.
- Brown Classics were 85% sold and Velvets were 70% sold, both at easier prices
- Intersorted Mahogany females were 60% sold at easier prices
- North American Mahogany females were 65% sold at easier prices
- Intersorted Black collection of males was 60% sold at easier prices and females collection was 55% sold at slightly easier prices
- The results today were affected by selective buying. China was the main buyer, with support from South Korea.
The mink auction concludes tomorrow with the offering of various Cross type mink pelts. The auction continues until Friday 16 June with the fox sale.
Day 5 report / 12 June 2023
Today we had the offering of 770,000 Brown male and 100,000 Mahogany male mink pelts.
- The large collection of Brown males was 80% sold at easier prices compared to our March levels
- The North American and intersorted Mahogany male collections were both 80% sold with easier prices
- China, South Korea and Türkiye were the top buyers
Tomorrow the auction continues with the sale of Brown and Mahogany female mink pelts in addition to the intersorted Black mink collection.
Day 4 report / 11 June 2023
We are now halfway through the June mink auction, and at the end of today, the overall sales percentage of the mink pelts is at 80%. Today, we had 250,000 Palomino and 350,000 Black North American mink pelts on offer.
- The collection of Royal Black pelts was over 80% sold at slightly easier prices
- The rest of the North American Black collection was nearly all sold at easier prices
- The intersorted Palomino collection was 80% sold at easier prices
- All results compared to Saga Furs´ March auction
- China and South Korea were the main buyers
The auction continues tomorrow with the sale of 770,000 Brown and 100,000 Mahogany mink pelts.
Day 3 report / 10 June 2023
Today we offered 900,000 Silverblue mink pelts.
- Collection was 90% sold with slightly easier prices
- Buying was dominated by China, with support from South Korea and Türkiye
The auction continues tomorrow with the sale of North American Black mink collection and Palomino mink pelts.
Day 2 report / 9 June 2023
On the second day of the auction on offer were almost 800,000 White and Pastel mink pelts. The day ended with the sale of the Swakara collection.
- White Classic females achieved over 90% clearance with easier prices
- The rest of the White collection achieved 60% clearance with slightly easier prices
- Pastel collection was 100% sold under good competition with clearly increasing prices
- Swakara collection was 40% sold
- China was the main buyer today with strong support from South Korea and Türkiye
The Top Lot of White Velvet female mink was purchased by Mr. Ben Zhao of Joinlong (Asia) on behalf of Mr. Ma Lianglong from Ao Zhuo Ya Fur
The Top Lot of Swakara was purchased by IZUO, Chinese fashion brand
The mink auction continues tomorrow with the offering of 900,000 Silverblue mink pelts.
Day 1 report / 8 June 2023
The Saga Furs´ June auction kicked off today in a focused atmosphere. During the 9-day auction, Saga Furs will offer 5 million mink and 485,000 fox pelts to the more than 220 registered buyers from all the main markets.
- On sale today were 318,000 Pearl and 67,000 Sapphire mink pelts
- All comparisons to Saga Furs´ March auction
- Pearl Classic females achieved over 90% clearance at firm prices
- The rest of the Pearl collection achieved 70% clearance with slightly easier prices
- Sapphire Velvets fetched 100% clearance with strong prices
- China and South Korea were the main buyers
The auction continues tomorrow with the sale of White and Pastel mink. In addition, for the first time, we will have Swakara collection – Furmark® certified – on offer.