The Margin: Talk about some pricey sushi: This tuna sold for $270,000 at a Tokyo auction

by | Jan 5, 2023 | Stock Market

There’s nothing fishy about this tale of a tuna that sold for $270,000. That was indeed the price for a 467-lb. bluefin tuna offered at a New Year’s auction in Tokyo. The sizable sum (36 million in Japanese Yen) was more than twice the top figure paid last year for a tuna, according to the Japan Times, and is the sixth highest price paid for such a fish since data began being made available more than 20 years ago.

There were joint buyers of the top-drawer tuna — a wholesale firm called Yamayuki and a company that runs the high-end Sushi Ginza Onodera restaurant. The auction took place at the Toyosu fish market, a major tourist attraction in the city. Speaking about the quality of the tuna, Sushi Ginza Onodera chef Akifumi Sakagami told the Japan Times: “The people who eat it will definitely be satisfied.” Bluefin tuna is very much prized for its meaty taste and texture — hence, the prices the fish can command. “It is best served as sushi or cooked rare to medium-rare,” noted the Chef’s Resources website. Sushi Ginza Onodera plans to share the fish with diners at its restaurants across the world, including locations in New York City and Los Angeles, according to a spokesperson for the restaurant group. But you’ll have to pay for the privilege. In New York, for example, the tuna will be featured as part of an omakase-style tasting menu — and prices for the meal start at $130 for lunch and $450 for dinner. The New Year’s fish auction is a big-deal event in Japan — and an eye-popping sale is usually expected. As The Atlantic previo …

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