Day 2 of the NAFA FURCHINA online auction followed the same trend as day 1, with selective buying throughout the catalogue. Over 2,000 buyers and viewers logged into the PiPiPai selling system throughout the day. Buyers commended NAFA’s efforts to try a new selling platform and in our cooperation with FURCHINA, but the timing and market conditions are just not right at the moment. Even a traditional auction would not have achieved the levels that NAFA set for this sale, to respect the interests of the trade as a whole.
The PiPiPai selling system worked smoothly on both the auction and Private Treaty side, but as it was a new platform for many of our customers, it was a test on many levels. Private Treaty was relatively brisk, which increased overall clearances. It is important to note that the price structure was strictly held in all Private Treaty transactions.
NAFA would like to thank the trade who came out to view and participate online in this unique selling system. We would also like to thank our associates at FURCHINA for their efforts in hosting this NAFA sale.
Best of luck to the Chinese trade for a successful retail season.