13.09.2022
Day 8 Stock Exchange Release / 13 September 2022 at 19.45 EET
Record high September auction sales
Saga Furs’ 8-day September auction concluded today, Tuesday 13 September. More than 130 buyers participated in the auction, and the majority of purchases went to the company’s main market, China. Purchases were also made to Türkiye, South Korea, Greece and the European fashion industry.
Of the 4.5 million mink pelts offered at the auction 95% were sold. Of the 560,000 fox and Finnraccoon pelts 65% were sold. The value of the auction’s brokerage sales was 123 million euros (9/2021: 59 million euros), making this the biggest September auction of all time. The price level of mink pelts increased from the June auction, and the price level of fox remained stable.
After the September auction, the value of the brokerage sales for the current financial period is EUR 272 million (the value of brokerage sales in the previous financial year was EUR 392 million). During the financial period, the company has sold 8,2 million mink, 0,9 million fox and 0,1 million Finnraccoon pelts.
“After a slow start to the season, sales of mink started to pick up in June, and demand continued to strengthen in September. Thanks to this, the whole season’s mink sales rose to the previous season’s level. We consider the mink sales result to be successful, taking into account the strong COVID restrictions that continue in China and the general uncertainty of the global economy. The result of the fox auction was in line with our moderate expectations, as the demand for foxes has not recovered the same way as it has for mink,” says Markus Gotthardt, CEO of Saga Furs.
Day 8 report / 13 September 2022
The September auction concluded today with the sale of various Cross type mink pelts.
- The Cross collection that consisted mostly of lowgrades and breeders was over 95% sold and fetched strong prices
- The main buyers today came from China, with some support from South Korea and Greece
The mink auction reached a clearance of 4.3 million minks out of the 4.5 million on offer.
Day 7 report / 12 September 2022
Today the mink auction continued with the sale of 560,000 Brown female pelts. In addition, we offered Black female and Mahogany pelts.
- Brown female mink collection was 100% sold with clearly advancing prices in Velvets
- North American Black female collection was 80% sold with firm prices
- The BLACKGLAMA collection was 65% sold with firm to slightly easier prices
- The Mahogany collection was almost 100% sold, while the North American females achieved over 80% sales
- Lowgrades and breeders were again 100% sold
- The Top Lot of Brown Velvet female was purchased by Mr. Hao Shijun on behalf of Mr. Ai Yingli owner of Wei Daier Fur from China
- China was the most dominant market during the day, with support from South Korea
The auction concludes tomorrow with the sale of various Cross type mink pelts.
Day 6 report / 11 September 2022
On the fourth day of the mink auction on offer were 470,000 Brown male pelts. In addition, the offering included Black males from Europe and North America, and the exclusive BLACKGLAMA collection. The day ended with the sale of Palomino females.
- Brown male mink collection was 100% sold with clearly advancing prices
- North American Black collection was almost 95% sold with firm prices
- The BLACKGLAMA collection was close to 90% sold with firm prices
- The Palomino female minks were almost 100% sold with firm to clearly advancing prices especially in Velvets
- Following previous days pattern lowgrades and breeders were 100% sold
- China was the most dominant market during the day, with support from Türkiye, Greece and South Korea
Tomorrow the auction continues with Brown and Black female mink pelts.
Day 5 report / 10 September 2022
Today the auction continued with the successful mink sale of 940,000 Silverblue and Palomino mink pelts.
- Silverblue mink collection was 100% sold with clearly advancing prices
- The Palomino male mink collection was nearly 100% sold with advancing prices
- Once again today, the entire collection of lowgrades and breeders was 100% sold
- China was the most dominant market during the day, with support from Türkiye
After today we have offered half of the mink collection and sold 97% of the intersorted collection and 87% of the North American collection. On Sunday the mink auction continues with Brown and Black males, as well as Palomino female mink pelts.
Day 4 report / 9 September 2022
The mink auction continued today with the offering of 580,000 Pearl and Pastel mink pelts from Europe and North America.
- Pearl mink collection was 95% sold with firm prices on Classics and clearly advancing prices in Velvets
- The Pastel collection was 100% sold on firm to slightly increasing price levels
- Lowgrades and breeders were all sold
- The main buyers today came from China, with support from Türkiye, Greece, South Korea and the European fashion industry
The mink auction continues tomorrow with the offering of Silverblue and Palomino.
Day 3 report / 8 September 2022
The mink auction started today with the offering of almost 650,000 White mink pelts. In addition, Sapphire mink pelts were on offer.
- The White mink collection was nearly 100% sold on firm to slightly increasing price levels with the Velvet males fetching clearly advancing prices
- White lowgrades and breeders were 100% sold under good competition
- The Sapphire collection was 100% sold with clearly increasing prices
- Buying was dominated by China with good support from Türkiye, South Korea and the European fashion industry
- The White Velvet female Top Lot was purchased by 祖阿曼皮草 (Zuaman Fur) from China
The mink auction continues tomorrow with the offering of Pearl and Pastel mink pelts from both Europe and North America.
DAY 2 Stock Exchange Release 7 September 2022 at 16.05 EET
Stable price level for fox pelts at the Saga Furs auction
The 2-day fox pelt auction concluded today. After hosting online auctions for two years, we were finally able to organize a live event. More than 130 buyers have signed up for the auction, which is more than the number of participants in any online auction we organized during the pandemic. The 560,000 fox and Finnraccoon pelts on offer today were 65% sold at the same price level than in the June auction.
“We are happy that Chinese buyers are arriving at Vantaa, even though a long corona quarantine awaits them when they return to their home country. The activity of the Chinese market was reflected in the fox auction, but purchases were also made to Türkiye, South Korea and the European fashion industry,” says Markus Gotthardt, CEO of Saga Furs.
The fur auction continues tomorrow with the sale of mink pelts and will conclude on 13 September, when the company will issue a stock exchange release regarding the entire auction.
Day 2 report / 7 September 2022
The two-day fox auction concluded today with the offering of almost 350,000 Blue fox pelts as well as Finnraccoons.
- Blue fox was 55% sold
- Finnraccoon was 90% sold
- The above clearances were achieved with firm to slightly easier prices
- The Silver fox clearance offering was 100% sold
- The Blue fox Top Lot was purchased by Mr. Ali Yavuz Boynukisa from Modaqueen of Moda Kurk
- The main buyers today came from China, with support from Türkiye, South Korea and the European fashion industry
The mink auction will start tomorrow with the offering of close to 650,000 White mink pelts from both Europe and North America.
Day 1 report / 6 September 2022
After two years of hosting online auctions, we were excited to finally kick-off a live event. We are pleased that around 130 buyers from our main markets have registered to our auction as of today – our warmest welcome to all to Fur Center! During the 8-day auction, we will offer 4,5 million mink, 520,000 fox and 40,000 Finnraccoon pelts.
- 150,000 foxes were on offer today.
- Blue Frost fox collection was more than 90% sold with firm prices
- Blue Shadow foxes were 95% sold and the price level remained stable
- Golden Island and Shadow Blue Frost foxes were around 30% sold
- In addition, minor quantities of different mutation foxes were sold with mixed results
- Main buyers came from Türkiye and China with support from Greece and Italy
- The Golden Island fox Top Lot was purchased by Feng Hu from Fur Finland on behalf of Chen Jingyi
The auction continues tomorrow with the sale of 350,000 Blue fox and 40,000 Finnraccoon pelts.
