Strong demand and rising prices
Kopenhagen Fur has concluded the sale of mink during the February auction, where skin prices, after some difficult years, saw great demand and a large increase in prices. The auction was originally scheduled to last 3 days, but due to very active buyers, the auction was extended by two additional days.
The auction marked the beginning of the sales season 2021. which has a total of four planned auctions and a total offering of 14 million mink skins this sales season, of which 2 million were sold during this February auction. The average skin price increased by 79 percent compared to comparable goods sold during the auction in September 2020 and the average price reached 255 kr.
- The fur trade is characterized by major cyclical fluctuations. The most recent price peak occurred in 2013, which was followed by a very large production of mink skins and a subsequent oversupply of mink skins. Now, production has experienced a global reduction, and supply has dropped below global demand. Combined with a very strong retail season in Asia and in North America and in parts of Europe, fur manufacturers are now experiencing increasing demand from consumers and fewer skins on the market, says CEO Jesper Lauge Christensen, Kopenhagen Fur.
It is well known that all Danish mink were euthanised in the autumn of 2020, and a large part of the production, which should have been put on the market in 2021, has been destroyed.
- The closure of Danish mink breeding is, all other things being equal, creating an upward price trend, which will probably become stronger as we sell the last Danish high-quality skins this year and the next. We have a unique product on our shelves, which is now unfortunately no longer being produced, says Jesper Lauge Christensen.
Kopenhagen Fur's next auction will be held from 20 to 26 April.