It seems there is another reason for the minks to disappear. The mink fur auction held at Copenhagen, Denmark drew a phenomenal $366 million and most of the buyers were from China. The analysts suggest that there is no stopping for the mink market, even during the time of economic crisis, the mink market blooms like never before.
The auction held for four days and concluded on February 9th. Chinese market remains unaffected in the recent recession and continues to beat buyers from all across the globe. This also could be because of the chilly winters in China, the amalgamation of these factors made Chinese the top most buyers in the auction.
Kopenhagen Fur organizes about five auctions each season and dishes out the mink in front of 500 buyers from 35 countries. The sales and price of mink went up to 13% during the last auction in December and in this auction the prices soared even higher. Last year, the sales of the mink raked in four billion kroner and this year it is expected to rise up to 5.5 billion kroner.
It is clear from the above statistics that while Denmark is the largest producer of fur, China is the largest buyer of fur, period!