28.05.2024
Day 7 stock exchange release / 28 May 2024 at 17:25 EET
The value of Saga Furs May auction’s brokerage sales is EUR 128 million
Saga Furs’ May auction concluded today, 28 May. Over 300 buyers from all major markets participated. Most purchases were made to China with support from South Korea, Türkiye, Greece and the European fashion industry.
The value of the brokerage sales was EUR 128 million (6/2023: EUR 111 million). The number of pelts on offer was significantly lower than at the corresponding auction last year.
Of the 3.8 million mink pelts on offer 96% were sold and 50% of the 316 000 fox and Finnraccoons. The positive price trend for mink pelts, which started in September 2023, continued. The average price increase was 6% compared to the March 2024 auction. The weak market demand continues to affect the prices of both fox and Finnraccoon pelts.
“For the majority of mink types, price levels became profitable for producers after several difficult years. Following a successful mink auction, the sales at the fox auction was modest for all types offered. Some lots were left unsold in order to defend the price level, and the sales percentage remains low,” says Markus Gotthardt, Managing Director of Saga Furs.
The company will hold its next auction in September 2024.
Day 7 report / Tuesday, 28 May 2024
Saga Furs’ May auction concluded today with the sale of 220,000 Blue fox and 26,000 Silver fox.
- Blue fox was 50% sold at firm to slightly easier prices.
- Silver fox was 40% sold at firm prices.
Price comparisons are to Saga Furs’ March auction. China was the dominating market with support from South Korea, Greece and Türkiye. The next auction will be held 5–11 September 2024.
Day 6 report / Monday, 27 May 2024
Saga Furs mink auction concluded today with the offering of 430,000 Silverblue female pelts. The auction then continued with the offering of 25,000 Blue Shadow, 25,000 Blue Frost fox and 15,000 Finnraccoon pelts. During the 2-day fox auction, Saga Furs will offer 316,000 fox and Finnraccoon pelts in total.
Minks
- The Silverblue collection was 100% sold at advancing prices.
- China was the dominating market with support from South Korea, Greece and the European fashion industry.
Foxes
- Blue Shadow fox was 80% sold at firm prices.
- Blue Frost fox was 50% sold at firm to slightly easier prices.
- Finnraccoon offering was 70% sold at firm to slightly easier prices.
- China was the dominating market with good support from South Korea, Greece and Türkiye.
- The price comparisons are to Saga Furs´ March auction
- 2024 Blue Shadow Fox Top Lot was purchased by Tongxiang Huazheng Fur Ltd. 桐乡华正皮草有限公司
The auction concludes tomorrow with the sale of Blue fox and Silver fox.
Day 6 stock exchange release / 27 May 2024 at 15:35 EET
Saga Furs mink auction: 96% of the mink offering was sold at firm to slightly advancing prices
“The mink auction met our expectations, in some cases even exceeded them. Of the 3.8 million pelts on offer, 96% were sold. There were over 300 buyers which is the highest number of auction participants in many years. Price level rose in an active auction room by 6% compared to March,” says Markus Gotthardt, Managing Director of Saga Furs.
China was clearly the dominating market. Purchases were also made to South Korea, Türkiye, Greece and the European fashion industry.
The fox auction, which started today, will conclude tomorrow 28 May. The company will then issue a stock exchange release covering the entire May auction.
Day 5 report / Sunday, 26 May 2024
Today’s offering consisted of 500,000 White male and female and 330,000 Silverblue male mink pelts as well as 73,000 Black Cross male and female mink pelts.
- The White male collection was nearly 100% sold at firm prices.
- The White female collection was nearly 100% sold at advancing prices.
- The Silverblue collection was nearly 100% sold at advancing prices.
- The Black Cross collection was 100% sold at very strong prices.
China was the dominating market with good support from South Korea, Türkiye and the European fashion industry. The mink auction concludes tomorrow with the sale of the Silverblue female collection. The auction then continues with the offering of fox and Finnraccoon pelts.
Day 4 report / Saturday, 25 May 2024
Today’s offering consisted of 475,000 Brown, 86,000 Mahogany and 29,000 Black female mink pelts as well as 141,000 Silver Cross mink pelts.
- The Brown collection was 100% sold under strong competition at advancing prices.
- The Mahogany collection was 100% sold under strong competition.
- Today’s Black collection was nearly 100% sold.
- The Silver Cross collection was 100% sold under strong competition at advancing prices.
China was the dominating market with good support from South Korea, Greece, Türkiye and the European fashion industry. The auction continues tomorrow with the sale of White, Silverblue and Black Cross mink pelts.
Day 3 report / Friday, 24 May 2024
Today’s offering consisted of 385,000 Brown, 103,000 Mahogany and 33,000 Black male mink pelts as well as 33,000 Sapphire mink pelts.
- The Brown collection was 100% sold under strong competition at advancing prices in the Velvet collection and firm prices in the Classic collection.
- The Mahogany collection was 100% sold under strong competition.
- Today’s Black collection was 100% sold.
- The Sapphire collection was nearly 100% sold under strong competition at firm prices in the male collection and clearly advancing prices in the female collection.
China was the dominating market with good support from South Korea, Greece, Türkiye and the European fashion industry. The auction continues tomorrow with the sale of Brown, Mahogany and Black female mink pelts as well as the Silver Cross and Sapphire Cross mink collection.
Day 2 report / Thursday, 23 May 2024
Today’s offering consisted of 205,000 Black and Royal Black as well as 287,000 Pearl mink pelts.
- The Black and Royal Black male collection was 70% sold at firm prices.
- The Black and Royal Black female collection was 80% sold at increasing prices.
- The Pearl male collection was 100% sold at firm to slightly increasing prices.
- The Pearl female collection was 95% sold at firm to increasing prices.
- The Royal Black Female Top Lot was purchased by AO SHI FU REN FUR 傲世夫人皮草.
Price comparisons are to Saga Furs’ March auction. China was the dominating market with good support from South Korea and the European fashion industry. The auction continues tomorrow with the sale of Brown, Mahogany and Black male mink pelts and the Sapphire collection.
Day 1 report / Wednesday, 22 May 2024
The Saga Furs’ May auction started today. During the 7-day auction, Saga Furs will offer 3,8 million mink pelts and 316,000 fox and Finnraccoon pelts to over 300 buyers representing all the main markets.
Today’s offering consisted of 233,000 Pastel mink pelts and 252,000 Palomino mink pelts.
- The Pastel male collection was 75% sold and the Pastel female collection was 100% sold both at strong prices with good competition.
- The Palomino male and female Classic collection was 100% sold at advancing prices.
- The Palomino male and female Velvet collection was 100% sold at advancing prices.
China was the dominating market with good support from Türkiye, South Korea, Greece and the European fashion industry. The auction continues tomorrow with the sale of Black mink including the exclusive Royal Black collection and Pearl mink pelts.