Rising Fur Prices Will Effect US Fur Business

Record Attendance Creates Record Prices

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February 22, 2013

White Lamb Fur Vest from Marc Kaufman Furs in New York City

NAFA, nor any other auction house in North America, has ever seen a buyer attendance for a fur sale such as we saw here in Toronto this week. Registration for NAFA’s 2013 winter sale was over 700 buyers, with 470 from Hong Kong/China, more than 100 from Russia and Greece and 50 Koreans. This, combined with buyers attending the sale from Turkey, Eastern Europe, North America and other European countries, meant our auction room was full to bursting each selling day.

Throughout the wild fur sale, Hong Kong/China was exceptionally active, but in many articles, we also enjoyed strong support from Russia and Greece. In the exclusive fashion category, we still saw excellent buying from the top fashion houses in Europe and North America.

NAFA’s wild fur promotion has been an important factor in increasing China’s buying of wild fur. It was only a few years ago that China showed very limited interest in wild fur. Today, with the huge amount that NAFA has now cumulatively invested in wild fur promotion, this has all completely changed. We have to recognize that fur is in fashion in China, where up until now, ranch raised mink was their number one article. Without NAFA’s wild fur promotional programs, it would not have been possible to sell articles like Fisher, Sable and most of the Raccoon into this important market at these levels. Coupled with the coldest winter in 28 years in China, this has created an unbelievably strong fur market.

In all of the long haired articles throughout our wild fur sale, the trimming trade was very active. This reflects the popularity of fur trim on all types of outerwear.

New highs were achieved for Fisher, which saw the traditional buyers having to compete with Chinese retail manufacturers for the first time. Prices increased 50% to 70% over February 2012 levels. The average price was $156.67 with the Top Lot sold for $350.00

Close to 100,000 Can/Am Sables also saw an incredible price increase over last February of 55% to 60%. Again, the traditional buying markets of Russia and Greece had to compete with Hong Kong/China, which dominated this sale. However, Russia and Greece still took their fair share of all of the goods offered. The average price was $144.29 with the Top Lot sold for $650.00.

Over 400,000 Raccoon sold 100% at an overall average of $31.20, compared to $16.90 last year, an increase of over 80%. However, the heavier, better sections quite often saw price increases of 100%. The influence from the trimming trade was felt throughout the Raccoon sale as they took the lion’s share of the goods. Here again, China dominated, with good support from Russia and Greece. This was not only a truly unbelievable accomplishment, but long overdue for this important article. The Top Lot was sold for $240.00.

Muskrats advanced 10% over our very strong sale last February, with an average of $11.51. Again, China dominated in this important article. The Top Lot was sold for $54.00.

Red Fox Fur Stroller with Belt & Hood, exclusively from Marc Kaufman Furs in NYC

160,000 Beavers sold 100% at an Eastern average of $37.73 and a Western Average of $31.03. Price averages declined 18% overall from last year’s February very high Beaver sale. This result is somewhat better than expected and reflects the ongoing dressing problems for this article. Again, China dominated. The Top Lot was sold for $400.00.

Otters had a very strong sale, advancing over last year’s already high levels. Again, China dominated, with good support from Greece and Russia. Better quality Otters are now being sheared and used for men’s coats. The average price was $112.58 with the Top Lot sold for $260.00.

Lynx sold under very strong competition with Russia, Greece and China all in the mix to buy. This resulted in a 40% increase over last February. Nearly all of the Lynx will be used for trimming. The average price was $194.44 with the Top Lot sold for $525.00.

Lynx Cats produced new highs, with all major markets competing for this beautiful article, which is mostly used in the big sizes for trimming and the smaller sizes for garments. Greece and Russia dominated with good support from China. The average price for Westerns was $589.08 with the Top Lot sold for $3,000.00.

Coyotes sold exceptionally well with Italy, Canada and China competing aggressively for all sections. Premiums were paid throughout for heavier, better quality Westerns, which averaged $93.98 with the Top Lot sold for $1,400.00.

Red Foxes sold under strong competition with premiums paid for heavier goods, better colors. Again, China dominated with good support from Europe and Russia. The average price was $65.78 with the Top Lot sold for $340.00

The sale concluded today with Grey Foxes, which sold 100% under good competition at advancing prices, primarily to the trim trade. Again, China dominated. The average price was $45.91 with the Top Lot sold for $68.00.

The combination of the record attendance of buyers from all major markets, the fact that fur is fashion, especially in China and Russia, and the long cold winter in China, came together to generate the “perfect storm” for our producers.

The sale will conclude tomorrow with miscellaneous and taxidermy articles.

With the price of fur increasing at this fast of a rate, the US retail customer will get sticker shock when trying to purchase a fur. Konstantine furs from NY, currently removed all of his minks from the show window and replaced them with dyed raccoon, in hopes that he could sell this item in replacement of mink. Mink has always been the promoted fur in the fur industry, but with such a high cost of mink pelts, furriers are scrambling to find other items.

Natural sable short coat, exclusively from Marc Kaufman Furs

Marc Kaufman Furs in NYC has the most complete selection of the finest fashion fur coats: full length mink coats, mink strollers, mink jackets, fox coats, fox jackets, sable coats, and sable strollers. And for the softest in furs we have the finest Mink coats, Mink jackets, Chinchilla coats, Chinchilla jackets, Lynx coats, Lynx jackets, Sable coats, Sable Jackets and many other types of fur jackets and fur coats. A full range of fur colors including mahogany mink, black mink, and whiskey mink. All furs at very attractive prices. We can also customize a color to your individual taste.

Our Designer Furs come from different parts of the world. We have some of the most beautiful Italian designed fur coats,some French designed fur garments and some beautifully designed fur coats from our NY fur designers. I must say we have a beautiful fur collection.

Look like a celebrity in this Tortoise Shell Hooded Mink Stroller from Marc Kaufman Furs’ collection

Marc Kaufman Furs NYC NY 10001 212 563 3877

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Long Hooded Mink Jacket, exclusively from Marc Kaufman Furs in NYC

Marc Kaufman Furs in New York City, NY ships your fur purchases and rentals to wherever you may be: Chicago, Illinois, Detroit, Michigan, Buffalo, New York, San Francisco, Los Angeles, California, Minnesota, Seattle, Washington, Philadelphia, Taos, New Mexico, Pennsylvania, Atlanta, Georgia, Portland, Oregon, Park City, Utah, Idaho, Vermont, Maine, New Hampshire, Wyoming, Montana, Aspen, Colorado, Missouri, Anchorage, Alaska, Moscow, Russia, London, UK, England, Seoul, South Korea, Geneva, Gstaad, Lausanne, Zurich, Switzerland, Germany, Paris, Chamonix, France, Austria, Italy, Dubai, UAE, Hong Kong, Beijing, Shanghai, China, Tokyo, Osaka, Japan, Toronto, Whistler, British Columbia, Quebec, Canada, Helsinki, Finland, Stockholm, Sweden, Copenhagen, Oslo, Norway, Melbourne, Sydney, Australia, Amsterdam, The Netherlands, Singapore; to all 50 States, and just about anywhere else in the World! With over 2000 quality furs to choose from, and the option to design your own, Marc Kaufman Furs of NYC has the most extensive online fur selection in the World.