Massive tuna nets $3.1 million at Japan auction

[Mufasa]

(CNN)Self-proclaimed Japanese "Tuna King" and sushi restaurant owner Kiyoshi Kimura paid a record $3.1 million (333.6 million yen) for a giant bluefin tuna at the New Year's auction at Tokyo's Toyosu fish market Saturday.

Kimura's purchase doubled the previous record of 155 million yen, set at the 2013 annual New Year's auction. The valuable and vulnerable fish tipped the scales at 612 pounds (278 kg).

The president of sushi restaurant chain Sushi-Zanmai said he was startled by how high the price went but not dissuaded from topping the record.
"I expected it (the tuna) will be between 30 million and 50 million yen ($276,421 - $460,702), or highest at 60 million yen ($552,843), but it ended up five times more expensive. Oh gosh!"

Thats a big fish

[Blobfish]

That's a lot of Casseroles

[Themius]

I want to know how much sushi he can get out of it and how much he'll recoup.

[Dethxx]

Probably more fake news from the kings of the media party

[Mufasa]

I want to know how much sushi he can get out of it and how much he'll recoup.

He paid 333.6 million yen, or over $3 million, for the 612-pound bluefin, a value of around $4,900 per pound

[KOUNTERPARTS]

W a s t e
o f
m o n e y

[Video Games]

He paid 333.6 million yen, or over $3 million, for the 612-pound bluefin, a value of around $4,900 per pound

Its going to be more after the clean and fileting. Im going to say only 350 of that is actually usable.

[Daedius]

Suddenly craving for a Tuna Melt Sandwich...

*Drools*

[Themius]

He paid 333.6 million yen, or over $3 million, for the 612-pound bluefin, a value of around $4,900 per pound

277 kg like $11,167 per kg. Average sashimi is like 1 gram so $11.17 per piece of sushi. But that would mean like almost 1300 yen per piece and the most expensive things I see on the menu are like 500.

[Hekazi]

It is profitable?
How the fuck you're supposed to make 3.1 million worth of sushi?

[Appelgren]

Ive never tried tuna steak. Need to eat it when i go to Japan in a few monts.
Kobe and Wagyu is also on the menu for sure even if im pretty sure its insanely overrated

[Deleted]

I want to know how much sushi he can get out of it and how much he'll recoup.

depends on what you value global free marketing at. Its about status as well.

'Mr Kimura has been the highest bidder at the new year auction for seven of the past eight years.'

The fish obviously is worth less ( its worth 60grand).

[akris15]

Ok for those who don't understand why someone will pay 3.1 million for a Fish most of it has to do with Japanese Tradition. Fish is auctioned like this are government controlled to prevent fishing cartels since Japan is so dependent on the sea for food so they only happen at interval times. This was made during the first auction of the year which bring up the Japanese superstition of the first fish sold represents if the fishing this year will be good or bad. To make sure its a "good" year people intentionally drive up the price with the winner getting all the advertisement of buying the first fish and bringing in a possible good year.

This is no different than here in middle America where business will pay tens of thousands of dollars for a Grand Champion pig at say the Ohio State Fair. They spend this money, not for the pig (hell they don't even get the pig meat here in the states but in Japan they get the fish, which in turn they can sell for a premium because first fish), but for the advertisement of saying you bought the champion, or in this case buying the first fish and setting the tone for a good year of fishing.

The more you know:

[Independent voter]

He was swimming around the sea having fun and now he's sushi.

[Rennadrel]

That's a lot of Casseroles

Or a lot of tuna sashimi

[Techno-Druid]

Too bad most of the bluefin tuna species are at risk of extinction due to overfishing.

[akris15]

What is the motivation to spend 3.1 million on a single fish, albeit the largest in the world or whatever.

Does he hope to make his money back from selling it as dinner?
Was it just for bragging rights?
More money than brains and just bored?

So many questions!

Advertising...that is all. Its no different than dropping a Superbowl Ad buy

[Spectral]

277 kg like $11,167 per kg. Average sashimi is like 1 gram so $11.17 per piece of sushi. But that would mean like almost 1300 yen per piece and the most expensive things I see on the menu are like 500.

You sure on the bolded? That seems really tiny. I don't think you can get 28 sashimi slices out of an ounce of fish. Google thinks it's about 14 grams, FWIW.

[Rustedsaint]

What is the motivation to spend 3.1 million on a single fish, albeit the largest in the world or whatever.

Does he hope to make his money back from selling it as dinner?
Was it just for bragging rights?
More money than brains and just bored?

So many questions!

All three,
people will pay more meals made from the first fish sold (probably not enough to cover it cost)
Then of course there is the bragging rights and free advertising from doing this.
And probably more then alittle bored

[Themius]

You sure on the bolded? That seems really tiny. I don't think you can get 28 sashimi slices out of an ounce of fish. Google thinks it's about 14 grams, FWIW.

I meant 10 grams a sushi so like $117.

I went back and edited things incorrectly.