American Legend auction sees record prices

SANDY PARKER REPORT, VOL. 30, ISSUE 2, FEB. 27, 2006
The following extract is reproduced with permission from Sandy Parker Reports, Weekly International Fur News. Sandy Parker has been covering the fur industry for more than four decades. For most of that time he has published a weekly newsletter, detailing results of international pelt auctions, wholesale price trends, business developments and movements in the trade, as well as economic and political activities that may impact on it.
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International Fur News
with Sandy Parker
American Legend auction sees record prices
PRICES OF NORTH AMERICAN MINK EDGED UP A FEW PERCENTAGE POINTS over recent levels to set new records, as American Legend opened its new season last week. As has been the case at virtually all sales on both sides of the Atlantic in recent years, it was Hong Kong/China that again set the pace, with strong support from Greece/Russia on the males and Korea on the better females. The Chinese and Russian markets have been growing steadily, hence their enormous appetites for skins despite steadily rising prices that have forced other buyers to settle for less. Recent improvement of the ailing economies in Korea and Japan have also brought those former powerhouses back into the auction spotlight.
The keen competition resulted in prices that buyers estimated were slightly higher in some of the labeled categories than comparable skins sold the previous week in Toronto. At the same time, they noted that some types brought slightly less. Overall, however, the prices were substantially higher than a year ago. The Blackglama males averaged 36% over last year, with mahogany, wild-type and blue iris males up between 29% and 34%. The Blackglama females were up 47% and the others from 16% to 36%.
WITH THE END OF THE FIRST AUCTION ROUND, THE SKIN COSTS THAT WILL DETERMINE OPENING WHOLESALE GARMENT PRICES are now established and manufacturers will begin issuing their lists at the Hong Kong fair, which opened at the weekend. Based on the steep increases that have taken place in almost all types of furs, the garment prices are expected to be up substantially. According to estimates by market sources close to the Hong Kong scene, the opening levels – which are usually trimmed to induce early orders – could be 10% to 20% higher than December prices and as much as 40% over last year’s openings.
IN THIS ISSUE:
Mink Prices Up Another Notch
Legend Offering Is a Sellout
Wild Fur Prices Rise Again
Hong Kong Sees Bigger Crowd
Broker Arraignment Postponed
For extracts from back issues of Sandy Parker Reports see News Index. Subscribers can access an archive of complete issues at www.sandyparker.com.
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