As far as eliminating speculation vs actual use of the skins... It wouldn't be hard at all, (state it in the terms of sale and mark the pelts w/ a sort of dye, the 75% down would pretty much wipeout that anyways and put the burden on the buyer not NAFA)… I would imagine it's the same bidders/buyers doing the same thing living in their house of cards, they know who they are.

Buyers can't afford to pay more than 35 per cent deposit, increase it an less fur sales. Restructuring debt, is a chapter 13, bankruptcy. More of business bankruptcy, pay back some there debts or per cent of debts over 3-5 years, then the case is closed. Chapter 7 is liquidation bankruptcy, much quicker. Over in months, unless they find a lender who well help with extremely high interest rates for risky Loan, i doubt it, I wonder how nafa trouble well impact groenwold an other buyers prices? I doubt price increase, probly down ?

Eliminating speculation by using a dye or cutting the heads off pelts is only going to lower the value of the pelt and hurt the buyer that is actually using the pelt.

To make the system work, you would have to mark every pelt. So if a wolf buyer knows the head is going to be cut off after he buys the pelt, he isn’t going to bid on any pelts that could be used for taxidermy because a headless wolf is difficult to rug out or mount life size.

You would also be penalizing legitimate buyers who reconsign not useable pelts to NAFA. There are any number of larger buyers/furriers who, once they’ve received their shipment, go through the bulks and find some pelts that aren’t suitable for needs. So he reconsigned them to NAFA to recoup some of his investment. He bought the pelts to use not on speculation, yet he is being prevented from reselling them at auction.

So if said buyer can't pay more than 35% how in the world are they supposed to pay the remainder at prompt date to release the furs? If I can't afford something I don't buy it? DUH!

Chapter 13. Chapter 11. Chapter 7. Those are all US bankruptcy options.

NAFA is a Canadian business. You need to be talking about what Canadian laws are.

A dye stamp on the leather will not reduce the value... Cripes some tanneries punch holes for ID

In 2020 all fur will be traceable.

True. But it does prevent a legitimate buyer from returning unusable pelts.

If you want to talk about reduction in value how about all those stringers they shove thru the heads and then tossem around like Samsonite luggage and tear the faces to shreds, now that's a reduction in value!

It would but that is silly who would pay all the commissions, fees, shipping to return skins and pay those all over again? Besides said skins would probably be graded poorer than said inspection lot? that wouldn't be very cost effective. It's the ones that put 35% and flop that clog the system

The mink farmers have to go somewhere as they continue to bankrupt their Auction companies (American Legends Cooperative).

It looks like a waiting game.

Yup. wait for your money.

Or just get over it and accept you got hosed! And find a new buyer!

I scaled back sending them fur after their stupid "internet" sale that hosed people selling.

Ranch fur (flooding the market) really hurt the industry and this might not be the end of it.

BOCO is alive !!!!!!

w

I'm not waiting for any money so I didn't get hosed. Hopefully It will get fixed and If It does I'll send them my fur.

There could be so many reasons for this that are out of their control. I'm not trying to defend them, but as a business owner I experienced a similar situation when the housing market crashed in 05/06. Could be that after purchasing fur that something on the buyers end went sideways and caused a domino effect. The bank yanking the rug could be the result of a merger or corporate restructure. The new deal falling through could be risk management or any number of reasons. Remember lending institutions answer to the share holders just like any other large corporation. I'm not saying any of this happened but I would imagine it is a nightmare for the folks trying to unscrew what ever happened. I very much disagree with how they have handled it in not being forthcoming right from the start but the past is the past. Looks like they are at least trying to keep everyone informed now even if we don't like the information. Wissmiss pointed out what came to my mind right away. I will admit I don't know the answer but I do know they are working under Canadian law which is most likely much different than our banking and finance laws in the U S A. I just hope it gets resolved. I'm not sure even collectively the other buyers could deal the volume that NAFA does and many might not have the credit or financing to do it even if they could sell it all. As I see it their failure could be a bad thing for all trappers in North America. Let's hope it turns out favorably in which case I would hope that everyone would be made right and the industry would remain strong. I look at it with a Walmart philosophy. No one can compete with them not even the vendors which would be us in this case. They are so big they can dictate price to vendors. So if NAFA fails and someone steps in to fill the void it could actually be a bad thing. At least with them in the game everyone knows the players which should keep the playing field somewhat even.

FHA better build a bigger fur cooler,or there wont be no room for the beer for the convention.