Ceremonial 1st Tuna: $1.76M

[PRBuzz]

Bluefin tuna sells for record $1.76M in Tokyo

In the year's first auction at Tokyo's sprawling Tsukiji fish market, a 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, but bluefin tuna stocks have fallen globally over the past 15 years amid overfishing.

The winning bidder, Kiyoshi Kimura, president of Kiyomura Co., which operates the Sushi-Zanmai restaurant chain, said "the price was a bit high," but that he wanted to "give Japan a boost," according to Kyodo News agency. He was planning to serve the fish to customers later Saturday.

Kimura also set the old record of 56.4 million yen at last year's New Year's auction, which tends to attract high bids as a celebratory way to kick off the new year — or get some publicity. The high prices don't necessarily reflect exceptionally high fish quality.

The price works out to a stunning 700,000 yen per kilogram, or $3,603 per pound.

The best slices of fatty bluefin — called "o-toro" here — can sell for 2,000 yen ($24) per piece at tony Tokyo sushi bars.