The world’s largest fur auction house will shut down due to the coronavirus pandemic caused a drop in demand.
The Kopenhagen Fur, the largest fur auction house in the world, is owned by around 1,500 Danish fur Farmers.
It was found in Denmark in 1930.
The Fur Auction House acts as a broker for fur pelts that are produced in Denmark and all over the world.
Fox, chinchilla, and karakul fur is sold there.
According to reports, 24.8 million mink skins were sold at the place between 2018 and 2019.
Increased awareness about animal cruelty and the development of sustainable and cruelty-free clothing and fashion has led to a massive drop in demand for fur over the past years.
This left a stockpile of unsold fur auctions and a drop in pelt prices.
The coronavirus pandemic is also believed to play a part this year.
This week, the auction house announced that they will be closing the house after 2022 or 2023.
The latest announcement comes after the government of Denmark announced that they will be killing millions of minks on its 1000 mink fur farms due to the ongoing pandemic.
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