GMVF Program Results in Record Prices for NWT Fur

Apr 19 2013

SEATTLE, WASHINGTON (April 19) — Record prices for Northwest Territories (NWT) furs marketed under the Government of the Northwest Territories’ Genuine Mackenzie Valley Fur (GMVF) label means strong returns to NWT trappers.

In a reflection of the fur world’s increasing demand for luxury goods, last month’s fur auction in Seattle was the most successful sale in the history of the Fur Harvesting Association and will result in a total projected return to NWT trappers of almost $1.5 million.

Record auction prices were led by NWT marten at an average of $164.50 (up 60% from 2012) and included a select lot of GMVF marten, which sold for $1,300 per pelt.

Through its Genuine Mackenzie Valley Fur Program, the Government of the Northwest Territories (GNWT) provides NWT trappers with one window access to the international fur auction market and works with the Fur Harvesters’ Auction to promote wild NWT fur while educating and training resident trappers to maximize their returns through best practices for trapping and pelt preparation.

“As a result of the GNWT’s support, Genuine Mackenzie Valley Fur is now the best wild fur on the market and is recognized world-wide as the highest-quality wild fur that money can buy,” said Minister of Industry, Tourism and Investment David Ramsay.

In total, the value of NWT fur purchased in March exceeded the entire value of of sales made at last year’s four fur auctions combined. Top overall prices were also realized at auction for NWT mink, lynx, wolf, arctic and red fox.

“Everybody wins,” Minister Ramsay notes. “Trappers benefit from increased support, training and income from fur provided at auction; buyers have the assurance that they are getting top-of-the-line, humanely harvested wild fur; and, with harvest data and monitoring provided by trappers, the GNWT is able to ensure our valuable fur resources are harvested wisely and in a manner that will allow NWT residents to benefit from the sustainable use of wildlife and fur for generations to come.”

The next auction will be held on May 20, 2013

 

For more information, contact:            

Alayna Ward
Manager, Public Affairs and Communications
Industry, Tourism and Investment
Tel: (867) 920-8696
Email: alayna_ward@gov.nt.ca