MACKENZIE

NAFA
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North American Fur Auctions

ABOUT NAFA

North American Fur Auctions’ principal business is the sale of raw fur pelts at public auction. The pelts are received on consignment from producers of ranched-raised furs and harvesters of wild furs. The fur pelts are sold to fur garment manufacturers and fur pelt dealers worldwide. The Company is the largest fur auction house in North America, and the third largest fur auction in the world.

Fur consignments are sorted according to size, shade, colour and quality, and offered for sale at public auction or by private treaty. Auctions are conducted four or five times each year in Toronto, Canada.

Attendance at auctions is international, with representation from North America’s major fur markets of New York, Montreal and Toronto, European centres in the U.K., Italy, Germany and Greece, along with Russia and the Baltic countries, and Asian markets of China, Korea and Japan. Customer support is drawn from the fur manufacturing and merchandising communities, who may be represented by brokers or agents. All buyers must be credit approved prior to participating in an auction. A buyer fee is charged on each auction purchase to cover the services provided by NAFA, which includes auction catalogues, porter services, meals (breakfast and lunch), wireless internet access, telephone and fax services.

The company currently handles approximately 2.8 million North American ranch Mink; 1.7 million European ranch Mink; North American ranch Fox; farmed Chinchilla; and all varieties of Canadian and U.S. wild fur including Beaver, Raccoon, Marten, Muskrat, Wild Mink, Otter, Red Fox, and Coyote.

HISTORY

North American Fur Auctions’ (NAFA) trading activities date back to the foundation of the Hudson’s Bay Company (HBC) in 1670. From the earliest days, the marketing of furs was done in a competitive environment, originally by a sealed bid and subsequently at public auctions held in London, England.

As a result of an expanded consumer market in North America, in 1949 the Hudson’s Bay Company opened its first Canadian fur auction operation on Dorchester Street in Montreal. This operation served as a sales outlet for the fur farming community and independent consignors of wild fur, as well as for fur collections purchased by HBC through its Northern Stores and Raw Fur Divisions.

In February 1987, the Hudson’s Bay Company sold the Canadian fur auction business to the Canadian Fur Division management group and its fur producer groups, Canada Mink Breeders Association and Canada Fox Breeders Association. The new company was named Hudson's Bay Fur Sales Canada Inc. and continued the 300 year tradition of Hudson's Bay in the fur trade.

In June 1989, the company also purchased Hudson's Bay Company’s New York Mink auction business, and operated it out of the New York area under the name Hudson’s Bay Fur Sales New York Inc.

In October 1992, the American Mink Council, the breeder organization in the U.S. which supports the New York auction, became partners with CMBA and CFBA in the ownership of the business. The Company also changed its name in 1992 to North American Fur Producers Marketing Inc. The combined auction activities of the two companies are conducted under the trade name “North American Fur Auctions”.

www.nafa.ca