High Demand, High Prices for Northwest Territories Furs

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Over $880,000 worth of Genuine Mackenzie Valley Furs (GMVF) were sold at a wild fur sale hosted by Fur Harvester’s Auction Inc. on March 22, 2012, bringing total GMVF sales this year to over one million dollars.

Demand for NWT furs increased again this year, particularly from buyers in Russia and China. An NWT marten pelt went for an unprecedented $380 and a lynx for $400, the top auction prices for these species against all others from across Canada and the Northern US.

Average prices for all species increased by an average of 50-60% over last year, with beavers leading the way at 110%.

“NWT wild furs continue to be in high demand from buyers around the world, who have proven they will pay top dollar for the high-quality furs that NWT trappers continue to supply,” said David Ramsay, Minister of Industry, Tourism and Investment. “With these high sales, our trappers and their communities will continue to benefit.”

GMVF wild furs will be sold at a Seattle auction again on May 20,and the final sale of the season will take place on June 21 in North Bay, Ontario.

The GMVF program is a GNWT fur marketing service for hunters and trappers in the NWT. All proceeds from fur sold at auction through the GMVF program go directly to the hunter or trapper.

By actively supporting the harvesting and marketing of wild fur through the GMVF program, the GNWT is taking action to diversify the economy and provide all communities and regions with opportunities and choices, key goals of the 17th Legislative Assembly.