Chinese demand offsets decline in sales to Russia in Helsinki Fur Auction

The decline in purchases by Russians at the Saga Furs auction in Helsinki over the weekend was somewhat offset by the increased demand from Chinese buyers.

Pertti Fallenius, CEO of Saga Furs, told local media on Monday that the sales amounted to 49 million euros (59.89 million U.S. dollars), while last year at this time the number was 34 million.

The price level was lower than last year in December, but the higher volume increased the total sales.

"The recent cold weather in China has enhanced the retail sale of furs in China, and that reflects now also here in Helsinki," Fallenius said.

Last winter in the northern hemisphere was mild and thus impacted the sales of furs, but this year the season has started with cold temperatures, especially in China, reports said.

Some of the brands particularly favored by the Russian consumers remained unsold.

In all, an amount of 230,000 Saga fox furs and 794,000 Saga mink furs was offered. Of Saga mink, over 60 percent were sold and of Saga fox over 80 percent.

The Saga brand covers western European furs.

In the auction, some 200,000 Eastern European mink furs were also offered, but only a small part of the offer was sold.

Saga Furs noted that lack of orders from the Russian market was reflected in smaller selling percentages in male mink, while the demand from Hong Kong SAR and Chinese mainland contributed to strong competition for good quality females.

As the Fur Center in Vantaa, northeast of Helsinki, is being renovated, the auction took place in Helsinki.

Auctions in Finland have been arranged since 1950.