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NOR T H A ME RIC A N F UR AUC T IONS

NAFA NEWS

FEBRUARY 2014

400+ Buyers Fill NAFA’s New Auction Room

65 SKYWAY AVE. TORONTO, ON  M9W 6C7  CANADA  |  TEL: +1.416.675.9320  |  FAX: +1.416.675.6865  |  WWW.NAFA.CA


P R E S IDENT'S M ES S AGE Dear Rancher, Against a backdrop of market uncertainty, NAFA again solidified its status as a leader and trendsetter in the fur industry. Last week, NAFA registered over 400 buyers for the February auction, all of whom came to Toronto to actively bid on the most complete and comprehensive collections of quality mink and wild fur that are available in the market, both in quantity and put-up. As you are well aware, the warm winter in China, Russia and Europe has led to a much higher unsold inventory of both garments and pelts. This has created significant liquidity issues across the market. However, in spite of these issues, NAFA’s February auction ended with not only 100 percent clearance levels on mink and many wild fur articles, but also overall sales results that were both highly competitive and truly reflective of the state of the market. This is an accomplishment that many thought would not have been possible just a few weeks ago. As you will read in the Auction Recap on the next page, almost every variety of mink sold under stiff competition during last week’s sale and while the overall averages achieved were, of course, considerably less than last year’s record price levels, they were still very strong by any measure of the current market as well as profitable for most North American producers. NAFA takes particular pride in this accomplishment. The February auction was also notable for numerous other reasons, not the least of which was the unveiling of our newly expanded and renovated auction room which was filled with buyers all week long. The next stop for the international fur trade is the Hong Kong Fur Fair which is taking place at the end of this month. We hope, and expect, that our February auction has helped to restore confidence to the market. If this proves to be true, then the NAFA February auction has indeed accomplished something quite exceptional. As you may already know, NAFA has revised its remaining 2014 auction dates. This was done not only to accommodate current scheduling conflicts within the international fur trade, but also to allow us to expand our fur offering at the new May 2014 sale to include selected Breeder and Section III mink. The postponement of our previously scheduled April/May auction to mid-May however also necessitated that our June/July sale be postponed until September in order to allow more time in between auctions for the international buying community to manage the balance of their 2014 fur purchasing requirements. NAFA remains committed to you, our producers, and to doing everything we can to assist you in building a more profitable business. This is our pledge to you as well as our way of thanking you for entrusting your product to us. Sincerely,

Michael D. Mengar, President & CEO

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AUC TION R ECA P the auction There was cautious optimism as over 400 registered buyers filled NAFA’s newly renovated auction room on the opening day of the mink sale, Tuesday February 18th. A large assortment of mutation mink sold 100 percent which helped to create market optimism for the remainder of the mink auction. The momentum from the mutation sale carried over into the next day’s sale, which began with a quality collection of Silverblue and Blue Iris mink - all of which sold 100 percent amid competitive bidding. In particular, the sale of Blue Iris mink produced surprisingly strong results. A very nice assortment of Mahogany mink then sold 100 percent under strong competition, particularly from China with support from Korea. The Black NAFA sale began on Thursday, February 20th and expectations were, once again, cautious but optimistic. The day, however, didn’t disappoint as 100 percent clearances were achieved. The larger size, higher quality, short nap Black NAFA mink, that NAFA is so well known for, sold extremely well to very strong competition and prices. The sale of short nap Demi Wild males also followed this trend while the longer nap and smaller sized mink sold at easier prices. The following day, the Black NAFA females sold at strong prices with Korea leading the competition for these mink in the face of aggressive bidding from China and Italy. The sale of Demi/Wild females was a near carbon copy of the previous day with the bigger, higher quality, short napped goods sold well; most other goods sold at reduced levels.

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SURF & TURF A SUCCESS!

Hundreds of buyers, ranchers and their families gathered in the NAFA auction house for an evening of merriment and camaraderie following a competitive day of bidding on day one of the NAFA mink sale. The evening featured light refreshments, spirits and a hearty offering of surf and turf and provided a welcoming environment as the week long auction kicked off on a strong note.

F E BRUARY 2014 A U C T ION R E P OR T BLACK MALE The top lot of Black NAFA — Male was purchased by Dino Salagiannis for Ego, of Kastoria, Greece. Produced by Zimbal Mink.

BLACK FEMALE The top lot of Black NAFA — Female was purchased by Tolis Gogos for Abel Furs Trading LLC, of Dubai, UAE. Produced by Patrick Collection.

OFFERED 363,209 1 / SN 5x0 4x0 3x0 2x0 0 Overall Average

BLACK NAFA $ 118.00 $ 111.58 $ 98.90 $ 86.38 $ 72.93 $ 84.16

SILVER

2 / SMN 5x0 4x0 3x0 2x0 0 Overall Average

BLACK NAFA $ 111.58 $ 106.99 $ 96.41 $ 77.60 $ 61.30 $ 78.29

% SOLD 100

TOP $ 1,460.00

$ 88.00 $ 82.54 $ 71.39 $ 61.27 $ 70.36

LABELLED $ 118.00 $ 105.88 $ 96.09 $ 83.79 $ 70.66 $ 81.84

$ 90.19 $ 82.24 $ 67.72 $ 56.33 $ 66.87

SILVER $ 96.00 $ 87.50 $ 80.29 $ 67.20 $ 54.18 $ 67.77

LABELLED $ 106.78 $ 101.42 $ 92.98 $ 75.45 $ 59.86 $ 76.00

VSL $ 92.00 $ 89.54 $ 81.12 $ 65.76 $ 53.63 $ 68.57

OFFERED 405,066

% SOLD 100

VSL

TOP $ 1,150.00

1 / SN 0 1 2 3 Overall Average

BLACK NAFA $ 72.77 $ 64.71 $ 53.41 $ 40.92 $ 53.76

SILVER $ 60.56 $ 54.26 $ 44.26 $ 37.41 $ 44.73

LABELLED $ 70.10 $ 63.26 $ 51.92 $ 40.27 $ 52.32

VSL $ 61.00 $ 53.05 $ 43.35 $ 36.68 $ 43.50

2 / SMN 0 1 2 3 Overall Average

BLACK NAFA $ 69.73 $ 62.76 $ 50.39 $ 39.37 $ 52.00

SILVER $ 56.76 $ 52.19 $ 42.78 $ 34.82 $ 44.16

LABELLED $ 66.85 $ 60.29 $ 48.63 $ 38.35 $ 50.22

VSL $ 60.36 $ 54.88 $ 42.88 $ 35.18 $ 45.63


OFFERED 52,647

BLUE IRIS MALE The top lot of Blue Iris Mink — Male was purchased by FURNATUR for PRIMA DONNA, of Moscow, Russia. Produced by Jefferson-MuellerMoyle-Smieja-Gamroth.

5x0 4x0 3x0 2x0 0 Overall Average OFFERED 60,559

BLUE IRIS FEMALE 2x0 0 1 2 3 Overall Average

DEMI/WILD MALE The top lot of Demi/Wild Type Mink — Male was purchased by FURNATUR for PRIMA DONNA, of Moscow, Russia. Produced by Walt Brown.

DEMI/WILD FEMALE The top lot of Demi/Wild Type Mink — Female was purchased by Hurwitz Exports Ltd. for Harbin Guifuren Fur Square, of Harbin, China. Produced by Walt Brown.

OFFERED 184,377 1 / SN 5x0 4x0 3x0 2x0 0 Overall Average

GOLD $ 98.00 $ 85.68 $ 74.24 $ 61.97 $ 52.01 $ 68.01

SILVER

2 / SMN 4x0 3x0 2x0 0 Overall Average

GOLD $ 81.42 $ 69.73 $ 59.80 $ 50.39 $ 64.51

% SOLD 100

TOP $ 225.00

LABELLED $ 106.67 $ 93.90 $ 96.01 $ 88.33 $ 73.58 $ 84.18

VSL $ 73.00 $ 69.55 $ 64.57 $ 52.90 $ 61.19

% SOLD 100

TOP $ 68.00

LABELLED $ 65.00 $ 65.53 $ 58.84 $ 56.21 $ 46.92 $ 55.60

VSL $ 54.84 $ 46.35 $ 41.69 $ 36.54 $ 42.14

% SOLD 100

TOP $ 195.00

$ 83.21 $ 71.47 $ 60.46 $ 51.17 $ 68.00

LABELLED $ 98.00 $ 85.04 $ 73.69 $ 61.71 $ 51.90 $ 68.01

$ 76.76 $ 69.99 $ 60.32 $ 48.99 $ 64.10

SILVER $ 76.87 $ 65.76 $ 55.91 $ 46.00 $ 63.20

LABELLED $ 80.29 $ 68.91 $ 59.19 $ 49.98 $ 64.28

VSL $ 70.24 $ 61.51 $ 51.21 $ 45.44 $ 58.36

OFFERED 117,258

% SOLD 100

VSL

TOP $ 190.00

1 / SN 0 1 2 Overall Average

GOLD $ 56.60 $ 49.12 $ 42.12 $ 48.87

SILVER $ 54.63 $ 47.27 $ 38.80 $ 47.84

LABELLED $ 56.17 $ 48.80 $ 41.69 $ 48.70

VSL $ 52.44 $ 45.94 $ 38.36 $ 45.72

2 / SMN 0 1 2 Overall Average

GOLD $ 53.74 $ 47.06 $ 39.19 $ 47.02

SILVER $ 50.71 $ 45.69 $ 36.59 $ 46.22

LABELLED $ 53.23 $ 46.89 $ 38.97 $ 46.92

VSL $ 48.00 $ 43.00 $ 36.00 $ 42.70

OFFERED 5,635

LAVENDER MALE 3x0 2x0 0 1 Overall Average

OFFERED 5,703

LAVENDER FEMALE 1 2 3 Overall Average

OFFERED 3,175

PALOMINO MALE 5x0 4x0 3x0 2x0 Overall Average

OFFERED 2,255

PALOMINO FEMALE 2x0 0 1 Overall Average

% SOLD 100

TOP $ 156.00

LABELLED $ 124.99 $ 116.61 $ 103.05 $ 64.00 $ 112.91

VSL $ 82.50 $ 73.01 $ 60.99 $ 42.00 $ 70.91

% SOLD 100

TOP $ 94.00

LABELLED $ 84.66 $ 82.27 $ 69.81 $ 80.66

VSL $ 58.34 $ 52.16 $ 36.38 $ 51.41

% SOLD 100

TOP $ 120.00

LABELLED $ 114.00 $ 117.16 $ 107.57 $ 98.00 $ 111.01

VSL $ 108.73 $ 97.49 $ 88.00 $ 86.29

% SOLD 100

TOP $ 88.00

LABELLED $ 83.47 $ 80.40 $ 74.25 $ 78.22

VSL $ 64.00 $ 69.21 $ 61.00 $ 66.28


MAHOGANY MALE The top lot of Mahogany Mink — Male was purchased by Michail Vogiatzis for NADIE, Ltd., of Kastoria, Greece. Produced by Sandy Bay M.R.

OFFERED 185,284 GOLD $ 103.46 $ 91.82 $ 84.48 $ 73.31 $ 61.24 $ 76.48

SILVER $ 94.00 $ 85.92 $ 76.63 $ 67.97 $ 55.30 $ 71.19

LABELLED $ 102.39 $ 90.80 $ 83.88 $ 72.82 $ 60.66 $ 75.96

VSL $ 90.00 $ 82.71 $ 75.87 $ 66.35 $ 57.15 $ 67.95

2 / SMN 4x0 3x0 2x0 0 Overall Average

GOLD $ 84.96 $ 79.58 $ 68.21 $ 55.11 $ 69.06

SILVER $ 81.80 $ 71.93 $ 63.51 $ 51.19 $ 64.12

LABELLED $ 84.43 $ 78.09 $ 67.29 $ 54.45 $ 68.13

VSL $ 79.68 $ 72.32 $ 61.52 $ 48.96 $ 62.42

3 / MN 3x0 2x0 0 Overall Average

GOLD $ 73.60 $ 65.95 $ 46.49 $ 63.60

SILVER $ 67.80 $ 59.59 $ 43.25 $ 58.10

LABELLED $ 72.29 $ 64.62 $ 45.76 $ 62.40

VSL $ 66.69 $ 55.96 $ 43.60 $ 54.62

OFFERED 157,406 1 / SN 2x0 0 1 2 Overall Average

GOLD $ 67.00 $ 61.12 $ 57.21 $ 48.46 $ 53.97

SILVER

2 / SMN 0 1 2 Overall Average 3 / MN 0 1 2 Overall Average

$ 55.00 $ 51.95 $ 43.12 $ 48.05

GOLD $ 55.80 $ 51.19 $ 44.00 $ 48.22

SILVER $ 53.54 $ 48.89 $ 41.28 $ 45.67

LABELLED $ 55.34 $ 50.72 $ 43.43 $ 47.69

VSL $ 48.81 $ 45.73 $ 38.93 $ 42.79

GOLD $ 44.95 $ 40.00 $ 34.81 $ 37.45

SILVER $ 35.49 $ 37.36 $ 32.96 $ 34.47

LABELLED $ 43.09 $ 39.64 $ 34.46 $ 36.94

VSL

OFFERED 69,160

OFFERED 59,973

PASTEL FEMALE 2x0 0 1 2 Overall Average

OFFERED 38,466

PEARL MALE The top lot of Pearl Mink — Male was purchased by Tolis Gogos for Abel Furs Trading LLC, of Dubai, UAE. Produced by Dittrich / Unicorn.

TOP $ 200.00 VSL $ 65.00 $ 57.53 $ 53.22 $ 43.64 $ 49.49

5x0 4x0 3x0 2x0 0 Overall Average

The top lot of Pastel Mink — Female was purchased by Margarita Nikitina for Furs of Florence, of Moscow, Russia. Produced by Springbrook-Labonte

% SOLD 100 LABELLED $ 67.00 $ 60.71 $ 56.90 $ 48.05 $ 53.64

PASTEL MALE

4x0 3x0 2x0 0 Overall Average OFFERED 25,090

PEARL FEMALE

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TOP $ 280.00

1 / SN 5x0 4x0 3x0 2x0 0 Overall Average

MAHOGANY FEMALE The top lot of Mahogany Mink — Female was purchased by Jindo Co., Ltd. for Jindo, of Seoul, Korea. Produced by Zimbal Mink.

% SOLD 100

$ 35.00 $ 32.00 $ 33.16

% SOLD 100

TOP $ 122.00

LABELLED $ 109.44 $ 102.87 $ 96.62 $ 88.06 $ 69.37 $ 92.68

VSL $ 101.17 $ 95.76 $ 86.03 $ 71.14 $ 51.78 $ 83.66

% SOLD 100

TOP $ 220.00

LABELLED $ 76.76 $ 74.12 $ 70.33 $ 59.78 $ 67.77

VSL $ 68.75 $ 67.14 $ 60.01 $ 46.24 $ 59.69

% SOLD 100

TOP $ 205.00

LABELLED $ 106.46 $ 96.34 $ 81.48 $ 66.30 $ 81.92

VSL $ 88.27 $ 71.00 $ 58.60 $ 69.83

% SOLD 100

TOP $ 71.00

LABELLED

VSL

0

$ 67.43

$ 61.00

1

$ 65.09

$ 56.67

2

$ 56.39

$ 44.84

Overall Average

$ 60.77

$ 51.34


OFFERED 27,704

SAPPHIRE MALE 4x0 3x0 2x0 0 Overall Average

OFFERED 27,177

SAPPHIRE FEMALE The top lot of Sapphire Mink — Female was purchased by Maurizio Braschi for BRASCHI Fur Collection, of San Marino. Produced by Bogus Fur Farm.

The top lot of Silver Blue — Male was purchased by LANGIOTTI. Produced by Larsen Fur Farms.

OFFERED 23, 502

4x0 3x0 2x0 Overall Average

OFFERED 20,769

SILVERBLUE FEMALE 0 1 Overall Average

OFFERED 10,398

VIOLET MALE The top lot of Violet Mink — Male was purchased by SibFur Company for Trade House Avenue of Novosibirsk, Russia. Produced by Zimbal Mink.

4x0 3x0 2x0 0 1 Overall Average

OFFERED 9,956

VIOLET FEMALE

OFFERED 50,890 5x0 4x0 3x0 2x0 0 Overall Average OFFERED 31,544

WHITE FEMALE The top lot of White Mink — Female was purchased by Harbin Guifuren Fur Square, of Harbin, China. Produced by Zimbal Mink.

2x0 0 1 2 Overall Average

LABELLED $ 86.03 $ 87.38 $ 79.80 $ 66.91 $ 78.55

VSL $ 77.89 $ 73.32 $ 63.96 $ 54.08 $ 64.84

% SOLD 100

% SOLD 100

TOP $ 195.00 VSL $ 59.59 $ 52.93 $ 46.58 $ 38.58 $ 50.16

TOP $ 195.00

LABELLED $ 86.01 $ 79.39 $ 70.51 $ 79.31

VSL $ 77.54 $ 69.39 $ 60.98 $ 69.59

% SOLD 100

TOP $ 66.00

LABELLED $ 60.46 $ 55.13 $ 57.64

VSL $ 56.24 $ 51.62 $ 53.76

% SOLD 100

TOP $ 250.00

LABELLED $ 112.00 $ 117.33 $ 98.69 $ 86.51 $ 66.00 $ 104.88

VSL $ 104.00 $ 96.87 $ 78.97 $ 63.92

% SOLD 100

TOP $ 100.00

LABELLED $ 100.00 $ 89.37 $ 76.55 $ 54.18 $ 82.35

0 1 2 3 Overall Average

WHITE MALE

TOP $ 98.00

LABELLED $ 69.26 $ 64.74 $ 58.83 $ 45.70 $ 59.70

0 1 2 3 Overall Average

SILVERBLUE MALE

% SOLD 100

$ 84.52

VSL $ 68.00 $ 68.98 $ 47.11 $ 39.00 $ 56.61

% SOLD 100

TOP $ 118.00

LABELLED $ 114.00 $ 112.93 $ 102.69 $ 89.60 $ 73.56 $ 94.59

VSL $ 106.00 $ 104.33 $ 91.64 $ 77.55 $ 69.21 $ 84.73

% SOLD 100

TOP $ 250.00

LABELLED $ 80.44 $ 80.38 $ 74.25 $ 62.73 $ 70.86

VSL $ 73.00 $ 68.78 $ 65.00 $ 54.79 $ 62.36

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REVISED AUCTION SCHEDULE NAFA announces new 2014 auction dates:

Auction: May 14th – 19th Inspection : May 9th – 13th Auction: September 4th – 7th Inspection : August 30th – September 3rd

SPRING BREEDERS

- NAFA’s new May sale will allow us to include selected clean breeders! - Our processing plant, NAFPRO, will start early to accommodate producers - Each year, NAFA has achieved the highest prices for your spring pelts - For more information, contact your solicitor

NAFA NEWS is published by

NORTH AMERICAN FUR AUCTIONS 65 Skyway Avenue, Toronto, ON, M9W 6C7, Canada www.nafa.ca

TORONTO, ON Tel : 1.416.675.9320 Toll Free : 1.800.745.0693 Fax : 1.416.675.6865

STOUGHTON, WI Tel : 1.608.205.9200 Toll Free : 1.800.872.3877 Fax : 1.608.205.9210

Nafa news 2014 02 26 bb  
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