Turnaround for the mink prices
26 June 2014Auction
Kopenhagen Fur's auction room was characterized by optimism when Kopenhagen Fur's June auction was held. The price of mink increased by up to 25 percent compared with the latest auctions held by Toronto-based NAFA and Finnish Saga Furs.
Compared to Kopenhagen Fur's April auction the price of mink dropped by 3 percent. The average price of mink was 265 DKK and the total revenue reached a staggering 1,59 billion DKK.
- We have reached a new firm ground for mink and we have seen an impressive increase compared to the other auctions recently held. We experienced a positive yet competitive spirit in the auction room which tells us that our customers once again have faith in the coming winter season, says Mr Torben Nielsen, CEO of Kopenhagen Fur.
At the June auction, a total of 5.6 million skins were offered representing a wide spectrum of light mutations and dark mink. The brown mink being the type produced on the largest scale experienced an impressive and important price increase according to Torben Nielsen.
- The price increase on brown mink is a very important signal for the entire industry because it means that the stock that our customers have bought throughout the season can be revalued. It gives the entire business a trust in the future, says Torben Nielsen.
A new price level means new players in the field of the fur trade. Kopenhagen Fur's June auction had 600 international customers. 350 of the customers came from China/ Hong Kong of whom 70 customers were new acquaintances who had never been in Kopenhagen Fur's auction room before.
- The new price level gives opportunity for new players to enter the market of high quality mink at a reasonable price. And with a healthy demand for fur in fashion we see new customers coming to Copenhagen to get the finest in fur, says Torben Nielsen.
Kopenhagen Fur concludes the auction season with the September auction when 5.5 million mink skins will come under the hammer and contribute to a total season sale of 25 million mink skins. This stresses the fact that Kopenhagen Fur is the largest fur auction house in the world.