One of the largest fur auction houses in North America skipped their September auction due to declining prices and lack of interest from oversea buyers.
The North American Fur Auctions (NAFA) wrote to sellers in the late summer months to inform them of the decision, following an apparent chain of poor communication with Russian and Chinese buyers – the two largest markets for Canadian fur.
“We feel it is not in our best interests to have an auction under these circumstances and potentially set a more negative tone for this important article,” the notice says. “Our sales department and international agents will aggressively pursue every opportunity to make private treaty sales.”
This is likely an attempt to make the January numbers – the next major auction – look better, by starving the market of supply temporarily. Though the visual of a line graph will look improved, the actual interest or value of fur will remain low come the next auction, if it doesn’t outright decrease. Meanwhile, European auctions are already showing ongoing losses in sales of farmed or trapped fur-bearing animals.
The fur industry has been hit hard in the last two years by the combined forces of an aware Canadian market who has sent a clear “no” to the use of fur, as well as economic pressures in Russia through sanctions and a decreased interest in frivolous purchases in China.
Despite the clear downward trend of fur prices, governments in Canada continue to support the industry with subsidies, bailouts and other taxpayer funded initiatives.
Join The Association for the Protection of Fur-Bearing Animals (The Fur-Bearers) today and help us send a clear message to the Canadian government, the commercial fur industry, and the world, that we will #MakeFurHistory.
Work like our growing #MakeFurHIstory campaign is only possible with the support of monthly donors. Please consider become a monthly donor – for as little as $5 a month – and help us create a Canada where we can proudly say we were part of the change to #MakeFurHistory.