13.09.2023
Day 9: Stock exchange bulletin 13 September 2023 at 18.30 EET (translation)
Saga Furs’ value of brokerage sales for the financial year increased by almost 30% from the comparison period
Saga Furs’ September auction ended today. 200 buyers from all the main markets participated in the auction. Most purchases went to China, but pelts were also purchased to South Korea, Türkiye, Greece and the Western fashion industry.
Of the 365,000 fox and Finnraccoon pelts offered at the auction, 85 % was sold. Of the 4,2 million mink pelts on offer, 90 % were sold. The price levels of fox, Finnraccoon and mink pelts remained stable compared to the June auction. A large part of the offer was from lower quality grades, as typical for September auction.
The value of brokerage sales of the auction was EUR 91 million (9/2022: EUR 123 million). The value of brokerage sales for the current financial year after the September auction is EUR 349 million (2021/2022: EUR 273 million). During the financial year, the company sold 11,8 million mink, 1,0 million fox and 0,1 million Finnraccoon pelts (2021/2022: 8,2 million mink, 0.9 million fox and 0.1 million Finnraccoon).
“As demand picked up, the pelt stocks accumulated during the COVID-19 pandemic, have started to dismantle. This was reflected in the increase in the value of brokerage sales, compared to the previous period. The price level remained unprofitable for producers, which will result in a further decline in global production of both mink and fox pelts,” says Markus Gotthardt, CEO of Saga Furs.
At the end of the financial season, Saga Furs has approximately 9 million mink pelts in storage, of which approximately a quarter is graded. There are also 780,000 fox pelts in storage, of which about two thirds have been graded.
Day 9 report / 13 September 2023
Saga Furs September auction concluded today with the sale of 200,000 Blue fox pelts.
- Today’s offering of regular pelts was 90% sold at slightly increasing prices compared to Saga Furs´ June auction
- Lowgrades and breeders were almost all sold
- Main buyer today was China with support from South Korea and Western markets
- The Top Lot of Blue fox was purchased by Tongxiang Senmeisi Fur Fashion Co., Ltd (桐乡森美斯皮草服饰有限公司), China.
Thank you to our buyers! We are looking forward to see you again in the next auction!
Day 8 report / 12 September 2023
During the last two days of the Saga Furs September auction, we are offering different types of fox and Finnraccoon pelts.
- The collection of 52,000 Blue Shadow fox was 85% sold
- The collection of 25,000 Blue Frost fox was 50% sold
- The collection of 30,000 Silver fox was 40% sold
- The collection of 22,000 Finnraccoons was 70% sold
- All of the above were sold at firm prices. Results refer to the regular collections, and comparisons are to Saga Furs´ June auction.
- On offer was also a collection of different mutation foxes in smaller quantities
- A clearance of 90% was achieved in lowgrades and breeders today
- China was the main buyer, with support from Türkiye and other European countries
- The Top Lot of Blue Frost fox was purchased by Mega Fur on behalf of Alyinvow Fur(阿颖皮草), China.
Tomorrow we will conclude the auction with the sale of 200,000 Blue fox pelts.
Day 7 stock exchange release / 11 September 2023
The number of mink pelts brokered by Saga Furs increased by more than 40 % from the previous financial year (translation)
The Saga Furs’ mink auction, which started on Tuesday 5 September, concluded today. On offer were 4.2 million mink pelts, of which 90 % were sold, on firm prices compared to June. Typical for a September auction, a large part of the offering was made up of lower quality categories.
“During this financial year, we have sold over 40 % more mink pelts than ever before. There is a demand for mink, and there was good competition over certain types in the auction room. The price level remains low for producers. However, the price level on our main market rose after the Chinese yuan deteriorated by 5 % since June,” says Markus Gotthardt, CEO of Saga Furs.
Around 200 buyers participated in the auction. Most purchases were made to China, but also to South Korea, Türkiye, Greece and the Western fashion industry.
Tomorrow, the auction will continue with the sale of fox pelts. The auction will conclude on 13 September, when the company will issue a stock exchange release regarding the entire auction.
Day 7 report / 11 September 2023
Saga Furs mink auction concluded today with the offering of 135,000 Silver Cross pelts, 37,000 Black Cross pelts, and various other Cross type mink pelts in smaller quantities.
- Silver Cross males were 85% sold at firm prices and females were 100% sold at increasing prices
- Black Cross males were 85% sold and females 75% sold, both at firm prices
- Above results refer to the regular collections, and comparisons are to Saga Furs´ June auction
- The lowgrades and breeders were all 100% sold under strong competition
- China was the main buyer, with support from South Korea and Greece
The auction continues until Wednesday 13 September with the sale of different types of foxes and Finnraccoon.
Day 6 report / 10 September 2023
On Sunday, the Saga Furs’ auction team offered 490,000 White mink pelts.
- White Classic female and male pelts were 90% sold with slightly easier prices
- White Velvet female and male pelts were 70% sold with slightly easier prices
- Above results refer to the regular collections, and comparisons are to Saga Furs´ June auction
- Also today, all the lowgrades and breeders were 100% sold under good competition
- Main buyers today came from China with support from South Korea, Greece and the European fashion industry
Tomorrow is the final day of the September mink auction with the offering of various Cross type mink pelts. Saga Furs will issue a stock exchange release following the mink sale. On Tuesday and Wednesday, we will offer fox and Finnraccoon pelts.
Day 5 report / 9 September 2023
Today on offer were Brown, Mahogany and Black female mink pelts, as well as different types of mutation mink pelts in small quantities, 948,000 in total.
- The Brown and the Black female intersorted collections were 100% sold at increasing prices
- Mahogany Classic females were 75% sold at firm prices and Velvet females were 100% sold at increasing prices
- Above results refer to the regular collections, and comparisons are to Saga Furs´ June auction
- Also today, all the lowgrades and breeders were 100% sold under good competition
- Main buyers today came from China with support from South Korea and Greece
- The Top Lot of Black Velvet Female was purchased by Mr. Hu Feng, owner of Fur Finland on behalf of Ms. Li Ting from Jincai®Fur, Tianjin, China.
After today, the overall sales percentage of mink is 90%. White mink will be on offer tomorrow and the auction continues until Wednesday 13 September.
Day 4 report / 8 September 2023
The mink auction continued today with the sale of Brown, Mahogany and Black male mink pelts, as well as Sapphire mink, 625,000 in total.
- Brown Classic males were over 50% sold and Velvet males 100%, both at firm prices
- The entire Mahogany male collection was almost 100% sold at increasing prices
- The intersorted Black male collection was almost 100% sold, Velvets at increasing prices
- Above results refer to the regular collections, and comparisons are to Saga Furs´ June auction
- Following previous days pattern all the lowgrades and breeders were 100% sold under good competition
- Main buyers today came from China with support from South Korea and Greece
The auction continues tomorrow with the sale of Brown, Mahogany and Black females, as well as different types of mutation mink pelts.
Day 3 report / 7 September 2023
On offer today were 355,000 Pearl and 157,000 North American Black mink pelts.
- Pearl male minks were 75% sold at firm prices
- Pearl female minks were 60% sold at firm prices
- The North American Black male mink collection was fully sold at firm prices
- The North American Black female mink collection was 90% sold at firm prices
- Above results refer to the regular collections, and comparisons are to Saga Furs´ June auction
- All the lowgrades and breeders were 100% sold under good competition
- Main buyers today came from China with support from South Korea
The auction continues tomorrow with the sale of Brown, Mahogany, Black and Sapphire minks.
Day 2 report / 6 September 2023
Today’s offering consisted mainly of Silverblue and Palomino females, and a limited collection of North American Pastel mink pelts.
- Silverblue females were 80% sold at firm prices
- Palomino females were over 70% sold at increasing prices
- Above results refer to the regular collections, and comparisons are to Saga Furs´ June auction
- All the lowgrades and breeders were 100% sold under good competition
- China was the main buyer with support from South Korea and Greece
- The Top Lot of Silverblue Velvet Female was purchased by Mr. George Gkogkos on behalf of Abel Furs Dubai
The auction continues tomorrow with the sale of Pearl mink as well as the North American Black mink collection.
Day 1 report / 5 September 2023
The Saga Furs´ September auction kicked off today. During the 9-day auction, Saga Furs will offer 4 million mink and 400,000 fox and Finnraccoon pelts to the more than 200 registered buyers from all the main markets.
- On offer today were 450,000 Silverblue male and 120,000 Palomino male mink pelts
- The Classic and Velvet Silverblue collection was 60% sold at firm prices
- The Classic Palominos were 40% sold at firm prices
- The Velvet Palominos were 80% sold at firm prices
- Above results refer to the regular collections, and comparisons are to Saga Furs´ June auction
- All the lowgrades and breeders were 100% sold under strong competition
- China was the main buyer with support from South Korea
The auction continues tomorrow with the sale of Silverblue and Palomino female mink pelts as well as the North American collection of Pastel mink pelts.