Swakara performing well despite global economic challenges

Agra sold 100 percent of the Swakara offering on Saturday, 10 September 2016 at the Kopenhagen Fur pelt auction held in Copenhagen, Denmark. The average price of N$ 466.25 is a decrease of 4% on the N$ 485.96 achieved at the April 2016 auction. This is mainly due to a less supportive exchange rate.

The pelt offer consisted of 30 702 black, 9 334 white, 3 137 grey, 631 brown, 2 117 spotted and 505 diverse pelts.

The Top Lot for white Swakara achieved N$ 1 823.81 (DKK 840) for a lot of 50 KF Selected Extra pelts, purchased by Etherion Furs from Kastoria, Greece. The highest price for black pelts was N$ 1 780.38 (DKK 820), for a lot of 68 O Light Selected Extra pelts, paid by Katharina Hasse from Russia.

The pelt offer was bought by 27 buyers with other prospective buyers bidding, but not being successful. The biggest buyer of Swakara was the company Morisco from Denmark which purchased 13 203 pelts. Buyers of Denmark bought the most pelts followed by buyers from Greece, with the agents from England in third place. More Chinese customers were visible at the inspection and auction, and 2 110 pelts for China were bought through agents.

Mr Arnold Klein, Agra’s CEO, who attended the auction noted that Swakara remains a high end luxury product. “As evident from the auction house, white pelts were still in demand but at lower prices for the top pelts. However, the prices of black and spotted pelts increased slightly,” he explained. On the auction results, Mr Klein said: “Swakara performed well, considering that the overall fur market situation is still very difficult due to the global economic challenges experienced by Russia, Greece and China.”

The top Namibian producer with more than 250 pelts at this auction was Karasberge Karakoel Stoet Wit, who achieved an average price of N$ 856.04 for 304 pelts.

The top South African producer was LJ Kotze from Groblershoop who sold 574 pelts at an average of price of R 606.74.