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Maybe LLL can give instructions on how it actually went down.[/quote]

You are the financial guru. Let’s here your spin. Like it says I give TRAPPING instruction not financial advice. This is all free here. The other costs you. LLL

I will continue to send fur to their auctions. We have a new route person this season as the Clarks have retired. We fly all over the world on airlines, many of whom have filed for bankruptcy multiple times and now it looks like several of the pharmacy companies will file for protection as well and we will still use their pills, so I don't have a problem sending up a some fur. The stock market crash and melt down of 2008 and 09 in reality with lost time etc. cost me more than a couple decades worth of fur so I don't get too alarmed from my perspective.

Bryce

There will be more shortly relative to the re-issuance of cheques, payment of NSF charges, and the timeline.

This is still a work in progress with the financial institutions involved. Everything is in progress and there is a timeline for completion. if you have uncashed cheques just hold onto them to avoid NSF charges and you will be instructed soon.

That's what I was looking for. Thanks Ron.

SALE of the century Feb 2013 check the NAFA site historicals

Anyone tried calling the bank the checks were written on? I don't think it exists anymore.

You missed a few steps
They pick up your stuff on a route
Haul it to Wisconsin
Sort and tag
pack and ship to Canada
Sort grade and bundle into lots
Scan codes
update acounts
prep for auction
Hold auction
Every step costs money before they get paid.
It costs just as much to handle a $5 coon as it does a $50 coon.
That's how you screw that up.

It is pretty pathetic that the costs related to handling most skins exceeds the income they generate through the auction process.

Supply glut has reduced this industry to dirt. Cheap coats will ruin us.

It will be interesting to see how these developments will effect the only bright spots left coyotes/ cats. The goods that still have something to lose.

Sounds like the Bank waited on the auction revenue to come in and took the funds to cover or at least cut a debt owed them .

"Every step costs money before they get paid.
It costs just as much to handle a $5 coon as it does a $50 coon."

Same goes for every trapper out there now. I know the high cost to operate and income generated is next to nil for me- I didn't stiff anyone along the way or after the fact.( yes I know Im on a much smaller scale)
They boast of 350 yrs experience?

If they cant cover those expenses in this market which isn't soon to recover then I would say they are done. They say they are going to get everything straightened out and keep rolling-me, I doubt it but lets hope so.

Nimzy quote is perfect. That is the problem right there. The current fur prices along side with the processing and setup fees. I am not a fan of NAFA. But I am no fan of any auction house. That is my opinion. But I do know when fur was high NAFA did share that profit thru out the community. Fur Community. Unfortunately for all of us. Wild fur has been and will continue to die a slow agonizing death. Not because no one likes to wear fur. It is due to the cost and risk of wildfur vs Ranch fur. Fur is a business. You have to be profitable to survive and to be able to thrive. You can only continue so long at a loss. That is fact. I hope they can find a way to be profitable and have an option for sellers and buyers. The opportunities are slowly disappearing for all of us in the wild fur industry

My larger long term concern is that it appears that even with record low prices there is not a huge bump in retail sales which to me indicates a general decline in wearing and marketing wild fur and ranch fur. If we only need 30 million ranch mink to fill a market that is a huge drop from the 50 million a decade ago, ditto rats, coon etc. If you can't give a small coon away it indicates to me the future value is not there.

If I were a young trapper,l say in my 20s I would seriously consider getting geared up to do a lot of ADC work and business as I don't see a need for many wild furs in the near term future. Animals like coons, grinners, skunks, beaver typically live in habitat where millions of people live and there will always be issues.

Bryce

To be fair to marketing fur and taking profits. Fur harvesters have to share a bit of the blame for over harvesting, because they never learn how to watch the economies of the country's using the harvest.

They just are watching prices and when they are high one season, most expect this to carry over to the next and most will try to harvest as much as possible flooding the holders, and dropping prices because of supply, never regarding need or size for the market, it's strictly a dollar deal for many.

I doubt anything will over come this now day's due to the drop in use of fur, unless something happens drastically to change thought and or need of fur, it's mostly going to be left to history, and minor usage in trim, and nitch craft markets.

You are seeing in reality what history has shown on records in the past of auction companies failing to get past a few years of low sales !

From what i saw. Trappers reduced production considerably years ago reflecting the new market situation. NAFA and the mink ranchers drove the price of our products down by not contracting in a timely fashion.

What is kinda interesting is that so many types of wild fur are effected by the ranch mink market. Basically coyotes are immune for now. I thought something like sable would be on their own market yet ranch mink controls that market too.

I pretty much agree with you. Demographics are changing and not in our favor. Those individuals and groups that are looking to decrease what we can do regarding outdoor activities and put further rules in place aren't going to be wearing much fur. Its not a matter of if but when and how will our rights to trap be reduced in the future.

Some young enterprising fellow on here should be looking beyond just ADC work but the potential for a nation wide business model. If we think there are a lot of critters in city and suburbs now just wait until there is even less pressure on them and a generation removed from trappers will create a real market for those skills. I suspect there will be an era where individual run ADC business thrives but I bet that will be short lived. I'd suspect the rules and regs to play ADC game will get rather complex and you'll see large enterprises emerge.

A buyer can get a big ranch mink for 30 dollars, he is not going pay 100 dollars for a half the size marten very long.

So rumor is that nafa owed a debt to bank, they got some there money back or all back from nafa an closed acct with nafa? Or sometbing else ? There is chapter 13 bankruptcy that is more busissnes bankruptcy, unlike a chapter 7 , I am not familar with how chapter 13 bankruptcy works

Lots of rumors floating around. Probably best to not believe any of them 100%.

NAFA is a Canadian Company. Bankruptcy laws are most likely different.