The Million Dollar Fish

What if I told you that in the year 2013, a fish sold for approximately $1.76 million dollars? How many of you would believe me? The Seafood industry had revenues of $2.1 billion in the U.S. alone. Much of this growth can be attributed to Americans increasing affliction with seafood. We are in different times as most Americans are choosing healthier meals, and fish is packed with protein and little fat, making it a great choice for health-conscious individuals. So is $1.76 million to much? It depends on who you are asking. bluefinThe fish in question is the ever increasingly rare Bluefin Tuna. This is one of the ocean’s most beautiful fish . The location in which it sold for the insane amount was Tokyo, Japan. There has to be a reason as to why the fish sold for millions. No, it will not take your taste buds on the craziest ride imaginable, nor is it the exquisite fine dining experience you’ve been waiting for your whole life. In fact, the fish was once fed to cats. Who knew Garfield was actually getting fine dining all along… The reason has all to do with marketing. The winner of the auction ever year not only gets bragging rights, honor, fame and glory, but they also get free advertising to a viral extent. If you look at the chart below, it illustrates prior Bluefin Tuna auctions.

Each time one of these fish goes on sale  in Japan, it is a pretty big deal. These fish are bought by successful restaurant owners, and the winner gets mucho respect and lots of notice. Think about it, by buying this fish at a ridiculous price, the amount of local, and international press said restaurant will receive is unimaginable. In fact the owner is selling the fish at a loss of $340 per plate, further evidence this was mostly for advertising and bragging purposes. By posting this blog, and you reading about it, the marketing is happening right now! Unfortunately due to the exorbitant prices the Bluefin tuna population is dwindling fast, now down to 4% of the levels found in the 1900s.

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