14.03.2024
Day 6 stock exchange release / 14 March 2024 at 17:05 EET
The value of the auction’s brokerage sales rose to over EUR 100 million
Saga Furs’ March auction concluded today. Over 250 buyers from all main markets participated. Most purchases were made to China, but also to South Korea, Türkiye, Greece and the Western fashion industry. The value of brokerage sales of the auction was EUR 102 million (3/2023: EUR 147 million).
40% fewer mink and almost 30% fewer fox and Finnraccoon pelts were offered compared to the corresponding auction last year. Fox pelts were already sold at an additional auction in December. In the March auction almost 90% of both 325 000 fox and Finnraccoon and 3 million mink pelts were sold. The price level of the fox and Finnraccoon was 15% and the mink pelts on average 25% higher than last year.
“The auction result shows that there is demand for certified fur pelts in our main markets China, South Korea and Türkiye, despite of the many uncertainties in the economy. The price level of both mink and fox increased and almost all pelts on offer were sold,” says Markus Gotthardt, Managing Director of Saga Furs.
The company will organize the next auction in May 2024.
Day 6 report / Thursday 14 March 2024
Saga Furs’ March auction concluded today with the sale of 72,000 Blue Frost fox, Silver fox and other fox types.
- Blue Frost fox was 100% sold at clearly increasing prices.
- Silver fox was 65% sold at firm to slightly increasing prices.
- The collection of Silver fox colour variations and Frost fox types was almost all sold with increasing prices.
- Price comparisons are to Saga Furs’ September 2023 auction.
- All markets were active today.
The next auction will be held 22–28 May 2024.
Day 5 report / Wednesday 13 March 2024
Saga Furs mink auction concluded today with the offering of 112 000 Palomino mink pelts. The auction then continued with the offering of 253,000 fox and Finnraccoon pelts.
Minks
- Palomino male Classic was 90% sold and Velvet 100% sold at +35% increase in prices.
- Palomino female Classic was 85% sold and Velvet 90% at +25% increase in prices.
- Price comparisons are to Saga Furs’ September auction.
- China was the dominating market with support of Türkiye and South Korea.
Foxes
- Blue Shadow fox was 100% sold at clearly increasing prices compared to September levels.
- Blue fox was 95% sold at slightly increasing prices compared to December levels.
- Golden Island, Fawn Light and other mutation foxes were 100% sold with clearly increasing prices.
- Finnraccoon offering was 100% sold at clearly increasing prices.
- China was the dominating market, with support from Türkiye, Greece and South Korea.
- The Blue Fox Top Lot was purchased by the online brand DEARHUA小花皮草 from China.
The auction will continue tomorrow with the offering of 72,000 Blue Frost fox, Silver fox and other fox pelt types.
Day 5 stock exchange release / 13 March 2024 at 10:45 EET
Saga Furs mink auction: prices were on average 25% higher than last year
The Saga Furs’ mink auction, which started on Saturday 9 March, concluded today.
“The mink auction met our expectations and was an indication of the continued recovery in demand that started last year. Almost 90% of the 3 million mink pelts on offer were sold. On average, the prices increased by 25% compared to last year,” says Markus Gotthardt, CEO of Saga Furs.
More than 250 buyers participated in the auction. Most purchases were made to China, but also to South Korea, Türkiye and the Western fashion industry.
The fox auction, which started today, will conclude tomorrow 14 March, when the company will issue a stock exchange release covering the entire auction.
Day 4 report / Tuesday 12 March 2024
Today we offered 670 000 White and Pearl mink pelts. The White offering consisted of 145 000 male and 254,000 female pelts. The Pearl offering consisted of 127,000 male and 122,000 female pelts.
White
- White male Classic was 90% sold and Velvet 70% sold at 10–15% increase in prices.
- White female Classic was sold 100% at 5% increase in prices and Velvet 60% sold at 10–15% increase in prices.
- China was the dominating market with support of South Korea and the European fashion industry.
Pearl
- Pearl male Classic was 70% sold and Velvet 90% sold at 10–15% increase in prices.
- Pearl female Classic was 100% sold and Velvet 80% sold with 25% increase in prices.
- China was the dominating market.
Price comparisons are to Saga Furs’ September 2023 auction.
The mink auction concludes tomorrow with the sale of Palomino mink pelts. The auction then continues with the offering of fox and Finnraccoon pelts.
Day 3 report / Monday 11 March 2024
Today we offered 760,000 Silverblue mink pelts. The offering consisted of 360,000 male and 400,000 female pelts.
- The male Classic collection was 100% sold and Velvet collection 85% sold at +35% increase in prices. Price comparison is to Saga Furs’ September 2023 auction.
- Current price levels resulted in selective demand in the female collection, from which slightly over half was sold.
- China was the dominating market with support from South Korea and Türkiye.
- Yesterday’s Swakara offering was 90% sold at increasing prices. There were two top lots: Black Top Lot was purchased by P.J Zeitlin International Ltd. and White Top Lot was purchased by FELEFASA 费雷梵萨.
The auction continues tomorrow with the sale of White and Pearl mink pelts.
Day 2 report / Sunday 10 March 2024
Today’s offering consisted of female mink pelts: 560,000 Brown, 59,000 Pastel and 106,000 Royal Black & Black.
- The Brown collection was all sold at +40% increase in prices in Classics, and +35% in Velvets. Comparisons are to Saga Furs’ September 2023 auction.
- The Pastel collection was 100% sold with strong competition at high prices.
- The Royal Black & Black collection was nearly all sold at advancing prices.
- The day concluded with an offering of Sapphires and Violets which were all sold at high prices.
- China was the dominating market with strong support from South Korea.
- The Brown Velvet Female Top Lot was purchased by the Chinese brand Alessandro Paccuci [AP].
The auction continues tomorrow with the sale of Silverblue male and female pelts.
Day 1 report / Saturday 9 March 2024
The much awaited Saga Furs’ March auction kicked off today with a positive note. During the 6-day auction, Saga Furs will offer 3 million mink pelts and 325,000 fox and Finnraccoon pelts to 250 buyers from all the main markets.
Today’s offering consisted of 450,000 Brown, 55,000 Pastel and 90,000 Royal Black & Black male mink pelts.
- The Brown collection was all sold at +45% increase in prices in Classics, and +30% in Velvets. Comparisons are to Saga Furs’ September 2023 auction.
- The Pastel collection was 90% sold with strong competition at clearly advancing prices.
- The Royal Black & Black collection was nearly all sold following the trend of advancing prices.
- The day concluded with an offering of Sapphires and Violets which were nearly all sold at increasing price levels.
- China was the dominating market with good support from South Korea, Greece and Türkiye.
The auction continues tomorrow with the sale of Brown, Pastel and Royal Black & Black female mink pelts.