15.03.2023
Day 9, Stock Exchange Release / 15 March 2023 at 18.20 EET
The value of Saga Furs brokered pelts in March auction was EUR 147 million
The Saga Furs fur auction concluded today with the sale of fox pelts. More than 230 buyers participated in the auction, and most of the sales were directed to the company’s main market in China. Purchases were also made to South Korea, Türkiye, Greece and, in certain pelt types, also to the European fashion industry.
Of the 5 million mink pelts offered at the auction 85% were sold, and of the 450,000 fox and Finnraccoon pelts 95% were sold. The value of Saga Furs brokerage sales was EUR 147 million (3–4/2022: EUR 31 million and 3/2021: EUR 104 million). The value of brokerage sales was increased due to higher number of pelts sold as well as due to the increased price level. Of the 250,000 Blue fox pelts on offer 100% were sold. The average price increase from the September auction was almost +10% for both mink and fox pelts.
“The number of pelts brokered in this auction was the highest ever at this time of the year. After the removal of pandemic restrictions, the Chinese were actively participating in the auction and bought significantly more pelts than usually in March. This indicates the market is recovering and the demand for certified fur pelts still exists after the tough years of covid-19 pandemic. The results strengthen the confidence in the whole value chain of the fur trade and give hope that the prices will return to a profitable level,” says Markus Gotthardt, CEO of Saga Furs.
The company will organise the next auction in June 2023.
Day 9 report / 15 March 2023
On the final day of the Saga Furs’ March auction, we offered 250,000 Blue Fox pelts.
– Blue Foxes were 100% sold at advancing prices.
Blue Fox Top Lot was purchased by Warren Hodges on behalf of Haining Fengniao International Company to Qianshunzi Fur, fashion brand in China.
Our first auction of the financial year is a promising start for the rest of the season. We are looking forward to seeing you all again in June.
Day 8 report / 14 March 2023
Saga Furs’ auction continued today with the offering of 165,000 fox pelts.
- Blue Shadow fox collection was almost 90% sold at firm prices
- Blue Frost fox collection was close to 100% sold under strong competition with clearly advancing prices
- Golden Island fox collection was 75% sold at firm prices
- Silver fox collection was 95% sold with advancing prices
- China and Türkiye were the most dominant markets during the day, with support from South Korea
The March auction concludes tomorrow with the offering of 250,000 Blue fox pelts.
Day 7, Stock Exchange Release / 13 March 2023 at 16.15 EET
A record number of mink pelts was sold, and the price levels increased at the Saga Furs auction
The Saga Furs mink auction concluded today Monday 13 March with promising results. There were 220 buyers participating in the auction, and most of the sales were directed to the company’s main market China. Purchases were also made to South Korea, Türkiye, Greece and, in certain pelt types, also to the European fashion industry.
Of the 5 million mink pelts on offer in the auction, 85% was sold. In most pelt types, the price level was higher than in the September auction, with an average increase of 10%.
“Our Chinese customers were finally able to participate in our auction in Vantaa, and the competition over the pelts was as good as it used to be before the pandemic. The mink auction exceeded our expectations in sales volumes, but the price level is not yet sufficient for farmers after financially hard years caused by the pandemic. The demand for each pelt type was good, which suggests that the mink market is recovering and that there is demand for certified fur pelts produced in Western countries,” says Markus Gotthardt, CEO of Saga Furs.
“In addition to certification, Western fashion brands require transparency and traceability throughout the fur value chain. In connection with the auction, we announced the Saga Trac solution, which is the first, commercially ready and scalable traceability solution for the fashion industry.”
The auction continues until Wednesday, 15 March 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 / 13 March 2023
On the final mink auction day, we offered 147,000 Mahogany female pelts, 105,000 Silver Cross mink pelts as well as smaller quantities of various other Cross types. In addition, we offered 32,000 Finnraccoon pelts.
– The Mahogany collection was 80% sold with advancing prices
– The collections of Black, Brown and Silver Cross types were fully sold with clearly advancing prices
– Finnraccoon pelts were close to 100% sold with clearly advancing prices
– Most active buyers today came from China, with good support from South Korea, Türkiye and Greece
Finnraccoon Top Lot was purchased by Trifon Ditsios on behalf of DTS. The Finnraccoons will be dressed at DTS and then donated to Turkiye Fur Federation who will organise a small auction to gather support to help the recent earthquake victims.
”On behalf of the Turkish Fur Federation and all the people in Türkiye we want to say thank you for feeling our pain and helping us in the recovery efforts in the area.” – Mr. Yusuf Doganay, Vice Chairman of Turkiye Fur Federation
Tomorrow we will offer Blue Shadow, Blue Frost, Silver and Golden Island Fox. On Wednesday we will wrap up the auction with the sale of Blue Fox.
Day 6 report / 12 March 2023
One million Brown female mink pelts were on offer today. In addition, the offering included Mahogany males.
- Mahogany Classic collection was close to 100% sold at clearly advancing prices and Velvets 80% sold at firm prices
- Brown Classic collection was over 80% and Brown Velvets 90% sold, both at advancing prices
- The main buyers came from China, with strong support from South Korea
The mink auction concludes tomorrow with the offering of Mahogany females, as well as various Cross type mink pelts. Later in the afternoon Finnraccoon pelts will be on offer. The auction continues until Wednesday 15 March with foxes.
Day 5 report / 11 March 2023
The fifth day of Saga Furs mink auction continued with the offering of one million Brown males.
- Brown Classic collection was 95% sold with clearly advancing prices and under strong competition
- Brown Velvet collection was 85% sold at firm prices
- China was the most dominant market during the day, with good support from South Korea and Türkiye
The mink auction continues for two more days. Tomorrow the offering consists of a million Brown females, as well as Mahogany males.
Day 4 report / 10 March 2023
Today, the Saga Furs March auction offering consisted mostly of Black minks including our Royal Black collection and also smaller quantities of different mink types.
- The North American Black collection was almost 90% sold at firm prices
- The European Black mink achieved increasing prices. Classics were 100% and Velvets 60% sold
- Palomino female collection achieved increasing prices. Velvets were 100% and Classics 75% sold
- Main buyers today came from China with support from Korea and Türkiye
Tomorrow Saturday we will auction a million Brown male mink pelts.
Day 3 report / 9 March 2023
The third day of the auction was successful with good competition over all mink types on offer today.
- The collection of 500,000 Silverblue female pelts was nearly 100% sold, resulting in clearly advancing prices
- The North American collection of Sapphires, Violets and Blue Iris was 100% sold with clearly advancing prices
- Palomino Classic males were 65% sold while the Velvets were 100% sold both with clearly advancing prices
- Buying was dominated by China with strong support from South Korea and Türkiye
- The Silverblue Velvet female Top Lot was purchased by DS Kim, owner of Ds FURS from Korea
The auction continues tomorrow with Palomino females, Black mink and ROYAL BLACK mink from the North American collection.
Day 2 report / 8 March 2023
On the second day of the auction on offer were 500,000 Silverblue male pelts.
- Silverblue collection was 95% sold with advancing prices
- China was the most dominant market during the day, with good support from South Korea and Türkiye
The mink auction continues tomorrow with the offering of Silverblue female pelts, Palomino males and North American Sapphire, Violet and Blue Iris mink.
Day 1 report / 7 March 2023
We are really pleased to see you all here! With these words, our Sales Director Mikko Hovén opened our live auction for March. During the 9-day auction, Saga Furs will offer 5 million mink and 410,000 fox pelts to the more than 200 registered buyers from all the main markets.
- On sale today was 450,000 White and 233,000 Pearl mink pelts.
- The intersorted collection of classic White minks were fully sold with 10% advance to September levels
- Intersorted White velvet collection was more than 80% sold with advancing prices
- The North American White collection of 42,000 pelts was 25% sold
- The whole Pearl collection was almost fully sold with clearly higher prices to September levels
- Today, the main buyers came from China, South Korea and Türkiye
- The auction continues tomorrow with the sale of Silverblue male mink
The White velvet Female top lot was purchased by Shin Kosmisch on behalf of Shi Ti Fur, China