YELLOWKNIFE (January 16, 2012) -- Wild fur pelt prices in the Northwest Territories have surged up to 135% at the first wild fur sale of the season hosted by Fur Harvester’s Auction Inc. in North Bay, Ontario on January 7, 2012.
The Genuine Mackenzie Valley Furs (GMVF) program is a fur marketing service provided by the Government of the Northwest Territories. All proceeds from fur sold at auction through the program go directly to the hunter or trapper.
“NWT wild furs commanded exceptional prices at the first auction of the year and the market for our high-quality furs continues to grow,” said David Ramsay, Minister of Industry, Tourism and Investment. “The Genuine Mackenzie Valley Furs program has been continuously recognized as a supplier of the finest northern Canadian wild fur, and our hunters and trappers should be commended for their ability to provide high-quality pelts for sale time and time again.”
Notable pelt increases this year include cross fox, with an increase of 135%; red fox, with an increase of 120%; and beaver, with an increase of 105%. Increases were also seen in grizzly bear, muskrat, wolf and Arctic fox.
Genuine Mackenzie Valley Furs’ Arctic fox broke its previous record for top selling price, with a pelt going for the all-time high of $200. Other pelts in high demand at auction were muskrat, where all pelts shipped to auction were sold, and beaver, where 95% of pelts shipped to auction were sold.
Total NWT sales at the auction totalled $124,000 – the highest amount at this auction in recent years.
The next auction where Genuine Mackenzie Valley Furs will be sold is the Fur Harvesters Auction on March 23, 2012 in Seattle, Washington.
Through the Genuine Mackenzie Valley Furs Program, the Government of the Northwest Territories works in partnership with NWT harvesters and the fur industry to support and promote the NWT’s traditional fur economy.
For more information, contact:
Francois Rossouw
Traditional Economy and Fur Management
Department of Industry, Tourism and Investment
(867) 873-7478