Keen competition expected at Copenhagen auction

SANDY PARKER REPORT, VOL. 30, ISSUE 27, SEPT. 11, 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
Keen competition expected at Copenhagen auction
BUYERS HEADING FOR THE FINAL MINK AUCTION OF THE SEASON IN COPENHAGEN, which got under way after we went to press, were anticipating keen competition at prices firm to possibly stronger than June levels. The large attendance that was gathering indicated that the year-end collection – typically consisting mostly of breeders and lowgrades – was drawing as much interest as the offerings of regular-quality goods earlier this year. Considering how much strength the market had been showing until it took a ‘breather’ at this season’s midpoint, ostensibly to digest what it had bought, the general expectation was that this sale could provide a strong windup.
The prospect of an auction season ending on a high note tends to outweigh any desire for last-minute bargains, which could prove to be unsalable in a weak market. The current market is considered likely to wind up with higher prices for mink and many other furs largely because of the rapid and continuing growth of demand for furs in China and Russia, which have been setting the pace at the auctions for the past four years and reviving interest in some items. Consider the lowly muskrat, which had been all but neglected until it was recently ‘discovered’ by China and has been bringing record prices. Clearances of the season’s purchases of mink and other furs at auction have been described as excellent. Auction officials also are pleasantly surprised by the excellent pace of payments in view of the sharp price increases.
LAST WEEK’S SALE IN ST. PETERSBURG ALSO SAW FIRMER PRICES FOR RUSSIAN SABLES. The previous sale, in April, resulted in mixed prices, ranging from 10% above the all-time peaks reached in January to as much as 10% below for some types. This, too, was a season-ender and consisted virtually entirely of buy-backs from previous sales.
IN THIS ISSUE:
See Big Demand at Danish Windup
Chinese Buyers Are Biggest Factor
Mink Prices Expected to Rise
Russian Sable Sale Firm to Higher
New Designer Line Aims at Teens
For extracts from back issues of Sandy Parker Reports see News Index. Subscribers can access an archive of complete issues at www.sandyparker.com.