If that's the case then you better start changing your shorts. That puts one single country in a position to dictate exactly what they want. They will be the only winners

Just by luck I probably dodged a bullet last season, I didn't have my fur ready for the NAFA pick up. I sold through two other auctions and have been paid for everything except one XL B belly Bobcat. Then I turned around this fall and bought over a thousand dollars in traps and supplies that will be delivered to me in a few day's. I'm not feeling all that wise after reading all of this sad news about a major player in the fur business.

As usual LLL has all the answers, he was there.

Heres how an auction works, at least the ones Ive dealt with for fur and other goods.
You give them your stuff.
They sell it for a percentage.
They get paid.
They pay you minus their cut.
How do you screw that up?

TP thank you for your continued support. How much was your bounced check for so I know how much weight I should put into your comments. LLL

EXACTLY.. you don't, unless you want to slit your own throat, which doesn't make sense. Simple solution since they're borrowing money to cover money they already have??? Does that make sense? Anyways there is this thing called a SURETY BOND, they get paid, I get paid, they default I get paid more... Factor that into your creative finance! Also the bond will be held in a solvent US bank not some Caribean institution. NUF SAID.

Seems like everyone has the own opinion on this and why nafa is in this situation. They over spent, there going broke, they made bad loans to the ranch fur guys. Why do they need a bank to help them financially, they are an auction house they get their money before they write checks, how did they bounce checks.

No one has mentioned that maybe one of the big buyers bounced there check to them, hence putting nafa in this position. If that is the case, nafa should of come out a lot sooner and said there may be issues with checks this go around. I’m sure some of the buyers had bills in the millions, maybe the buyers banks cut them off leaving nafa with the only choice to go to there bank for assistance. I would think these buyers have a credit line approved with nafa, and I imagine those credit lines are allowed to be spent over also. Im sure we will never hear the 100% truth of the situation.

That's their problem if someone bounces THEIR check- that's why we pay such high fees. They owe me, the guy that owes them doesn't owe me. Around here, the checks all go into escrow and are issued once cleared. I don't like it, I have to wait long periods of time to get my check, but I know its good.

Any time.

Have the NAFA route dates been established yet. Gonna start working my spring beaver pelts so they are ready.

Is there a way to tell if your check is good or not? I'd rather not run it through and have it bounce with bank fees etc.

Be nice to know if their sending new checks to all or if you have to file a claim for bad check first.

Would love to see a letter from the president that had some actual useful information.

Not saying they are squeaky clean and have not made mistakes. But as you also stated, your coon has gone from $35 to $14 and their charge for selling said coon has gone down as well.

My point is that their revenue stream or cash flow has been severely impacted and I suspect that their expenses have not been cut by the same percentage. They still have facilities, employees and fixed expenses to pay. They have done some down sizing but probably not nearly enough or quickly enough. Mistakes when business is good are easier to recover from than mistakes when the business is down sizing.

Must have missed that sale. Granted, prices were at historical highs. Now at historical (at least to recent memory) lows. There was however a lot of revenue generated some of which went to help recover from the last downturn, same as the farmers. Their bank wanted out of the fur business. Too up and down and no "up" visible in the foreseeable future. The fur markets are fragile and have been for a long time. That comes from limited demand and/or unique markets but not general market demand. The fashion styles did not change on October 19, 1987. Dominion/Soudack, OTc, AmeriMink, NYC broker trade, and more all gone including the actual HBC that NAFA claims for their heritage. Yes, I realize some people weren't around to see that but it had become a speculators market. It has been almost 100 years since there was an actual demand-driven, long term, general high market for wild fur (as opposed to a supply-side, try to create a market approach). The markets are so limited and/or fragile that the militia of trappers goes gung-ho over an increase and over supplies or the limited market dries up and disappears after only one or two seasons. Ranchers do the same with the farmed stuff. Selling a few coon tails at a crafts fair and then bragging about the 4 they sold for $20 avg. (and not counting the 100 still in the box) is not a fur market. And none of this makes it OK to mail rubber checks. Someone DEFINITELY dropped the ball there; at best an accounting snafu. I think most people would have been happier with a few-week delay and an explanation.

I'm rambling. Hope Trump survives the coup attempt.

Trapset, take your check to bank and ask them to verify the funds before you give the check to them to cash. I go in my bank with a check ask them to verify funds, they call that bank. If the funds are there they cash it if the funds are not there I take the check back. Make calls to who wrote the check and try again after a week, since normally people are paid weekly that I deal with.

Yes, the routing number.

Nafa started making panic poor busness decissions in 2014 apparently the bank finally reconized a problem before some trappers did

What are you calling recent memory? I've been at this game for only twenty years and prices of most articles that we have in Ohio are still slightly better than at the turn of the century. Red fox and and beaver would be the main exceptions

Maybe LLL can give instructions on how it actually went down.

wish 20 years back was all i could remember,make things easier a little anyways.

Thanks jarrett and Les. I may do that.

I was just wondering if NAFA listed the bad acc # vs the good one somewhere so you could tell without going to the bank.