By Chad Love

A giant bluefin destined for a high-end Japanese sushi joint went for an insanely high record price at auction.

From this story on nbcnews.com:
A bluefin tuna sold for a record $1.76 million at a Tokyo auction Saturday, nearly three times the previous high set last year — even as environmentalists warn that stocks of the majestic, speedy fish are being depleted worldwide amid strong demand for sushi. 

In the year's first auction at Tokyo's sprawling Tsukiji fish market, the 222-kilogram (489-pound) tuna caught off northeastern Japan sold for 155.4 million yen, said Ryoji Yagi, a market official. The fish's tender pink and red meat is prized for sushi and sashimi. The best slices of fatty bluefin — called "o-toro" here — can sell for 2,000 yen ($24) per piece at upmarket Tokyo sushi bars. Japanese eat 80 percent of the bluefin tuna caught worldwide, and much the global catch is shipped to Japan for consumption.

If a bluefin is on your lifetime bucket list of fish to catch, but you've been dragging your feet, you might want to go ahead and do whatever it takes to make it happen. Because you may not have the opportunity to do so much longer.   

Comments (5)

from TM wrote 22 weeks 5 days ago

Serious question:

At $1.76mm for a 489 pound tuna, can a restaurant make money? Even at $24 per piece of "o-toro"?

By my math, assume that half the fish is edible meat. We're at 244.5 pounds of edible meat, which I think is a generous estimate. That's about $7,200 per pound of edible meat.

Now assume that the entire fish can command the premium price of $24 per piece (again, a very generous assumption). Also assume that each piece of sushi is 0.5 ounces of fish.

By my math, each "piece" of o-toro, if sold at the premium price of $24/half-ounce, results in a loss to the restaurant of $201 per piece. (The cost per piece is $225).

This seems like a good way to lose your shirt in the sushi restaurant business. Am I missing something? Is this a publicity stunt?

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from R emington wrote 22 weeks 4 days ago

If each piece of sushi they cut sold for $24(which I assume they wont), they would need to cut more than 70,000 pieces of sushi from that fish to break even haha.

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from WA Mtnhunter wrote 22 weeks 4 days ago

They make their money on the saki sold to toast it and wash it down!

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from Mark Carmany wrote 22 weeks 3 days ago

Although 1.76 million Yen sounds quite impressive, when converted to US Dollars, the selling price is $19,965.97
Which works out to $40.83 a pound. Pretty sure they'll be making a profit. Exactly why there are so few of these tuna left.

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from RealGoodMan wrote 21 weeks 3 days ago

What won't they eat? Seems anything with a taste is open game for eating.. and smuggling into our country, selling on the black market, dumping into our ecosystems etc.

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from TM wrote 22 weeks 5 days ago

Serious question:

At $1.76mm for a 489 pound tuna, can a restaurant make money? Even at $24 per piece of "o-toro"?

By my math, assume that half the fish is edible meat. We're at 244.5 pounds of edible meat, which I think is a generous estimate. That's about $7,200 per pound of edible meat.

Now assume that the entire fish can command the premium price of $24 per piece (again, a very generous assumption). Also assume that each piece of sushi is 0.5 ounces of fish.

By my math, each "piece" of o-toro, if sold at the premium price of $24/half-ounce, results in a loss to the restaurant of $201 per piece. (The cost per piece is $225).

This seems like a good way to lose your shirt in the sushi restaurant business. Am I missing something? Is this a publicity stunt?

0 Good Comment? Yes | No | Report

from R emington wrote 22 weeks 4 days ago

If each piece of sushi they cut sold for $24(which I assume they wont), they would need to cut more than 70,000 pieces of sushi from that fish to break even haha.

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from WA Mtnhunter wrote 22 weeks 4 days ago

They make their money on the saki sold to toast it and wash it down!

0 Good Comment? Yes | No | Report

from RealGoodMan wrote 21 weeks 3 days ago

What won't they eat? Seems anything with a taste is open game for eating.. and smuggling into our country, selling on the black market, dumping into our ecosystems etc.

0 Good Comment? Yes | No | Report

from Mark Carmany wrote 22 weeks 3 days ago

Although 1.76 million Yen sounds quite impressive, when converted to US Dollars, the selling price is $19,965.97
Which works out to $40.83 a pound. Pretty sure they'll be making a profit. Exactly why there are so few of these tuna left.

-1 Good Comment? Yes | No | Report

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All submitted comments are subject to the rules set forth in our Privacy Policy and Terms of Use.