07.07.2020
Saga Furs’ fur auction, which was arranged in an exceptionally difficult market situation, ended today.
During the last two auction days when 835 000 fox skins were at offer, less than 10% were sold. Of the Finnraccoon skin collection 30% was sold and of the mink collection was sold 16%.
The corona pandemic has had a strong impact on retail sales of durables goods as well as on retail expectations. In many important markets, consumer buying behaviour is very cautious in fear of the second wave of the COVID-19 pandemic, and in some markets the first wave of the pandemic continues to be strong. In the company’s main market, China, the import of animal products has clearly been made more difficult as part of the fight against the corona pandemic.
Due to the above, expectations for the July auction were not high. However, the company considered it important to arrange a live auction to meet the emerging demand and ensure that fur remains in the fashion collections.
“The exceptional sales result indicates the seriousness of the pandemic situation, but it cannot be concluded that the interest in fur has decreased. Buyers have an immediate need for responsibly produced skins and a third of the mink skins sold last week have already been shipped to customers. Several of the world-famous brands bought skins at the auction”, says Magnus Ljung, CEO of Saga Furs.
At the next fur auction 7th to 16th September, mink, fox and Finnraccoon skins will be at offer.