What Determines The Value Of Koi?

As you know,  In 2017, a koi fish was sold for a record 1.8 million dollars. It was a 9-year-old large female Kohaku. It was white with red-orange splotches. An artist even did a painting to immortalize her legendary beauty. That is the most expensive koi fish to date.

 

Although this prize fish was explicitly bred to compete in the All Japan Koi Show, koi fish costs are substantial compared to other fish. The reason is koi are mainly ornamental pets. Luckily, most koi fish are not usually as expensive as that prize breed. So, exactly how much are Koi fish worth?.

 

Well, The value of a Koi can be broken down into many factors, including things such as the manner in which the fish moves in water, bone structure, shape, skin quality, potential for the future. For the many different varieties of Koi there are many more factors.

 

A variety of factors determine koi fish prices. Because they are prized for their beauty, koi are more expensive than other fish. Also, unlike the goldfish, koi’s larger size makes them more suitable for a pond than an indoor aquarium.

 

Buying koi fish can be an expensive undertaking. It is more costly to buy them than any other pet fish. Also, the price of pond construction can be high. Because Koi fish are an excellent choice for adding a beautiful and serene touch to your backyard pond or water garden.

 

So, Before you get too deep or just get started with the koi caretaking hobby, read this koi cost guide so you know what to expect when purchasing your own koi fish. There are many factors to determine the cost of a koi fish and the prices can range greatly depending on what you are specifically looking for. In this article, we are mainly discussing Japanese Koi Fish, but you can purchase domestic, or non-Japanese born koi fish, at a lower cost in general.

 

The koi fish keeping hobby is a very rewarding way to spend time, but is not the best low cost hobby. There are many risks and costs to maintain a backyard pond. That is one of the reasons that some rare and high quality koi are priced at such high prices.

 

The cost of koi fish can vary greatly depending on a number of factors such as their genetic lineage, size, coloration pattern, breed, and whether they are purchased in bulk or individually, among other factors. Different varieties range in cost according to rarity and difficulty of breeding, as well. For example, an imported Japanese  koi can be worth $100 to $1500 on average.

 

The most expensive koi fish are better looking and are potential koi show winners. As they say, beauty is in the eye of the beholder, so the cost of a koi fish can vary greatly, depending on who you ask.

Some can be so precious to the owner, they are not for sale, or would be over $100,000.

The most expensive koi purchase in recorded history is assumed to be S Legend, a Kohaku variety that brought in a whopping $1.8 million or 203 million Yen in October 2018. Kohaku is generally the most valuable koi fish variety.

Miss Yingying, a koi enthusiast and collector, bought the female 39-inch koi from the breeder Kentaro Sakai, after an intense bidding war at his fish farm.

 

When it comes to the cost of koi fish, there are many factors to consider. Here are the top considerations on koi prices.

 

First, Bloodline, beauty (body shape, quality, and pattern), variety, and rarity (of pattern or variety) are the primary factors that determine the price of a koi. Size directly correlates with cost, as larger fish tend to cost more than smaller ones.

Second, Age also impacts price of koi fish, as adult koi two to four years old are larger and longer, thus fetching a higher price. For example, Tosai Koi are koi that are just one year old and Tategoi Koi are koi at any age that have great potential The younger the fish, the smaller the price may be. You may consider buying koi when they are small and young and rolling the dice to which you might be pleasantly surprised, or you can consider purchasing larger koi  that the patterns and colors are already visible for your liking.

Third, size. Size matters, Kodama Koi Farm offers koi of all sizes. A jumbo koi is a large fish that is typically longer than 24 inches or 61 cm, and can weigh up to 40 pounds or 18 kg. They are typically found in high-end koi ponds and are highly sought after by koi enthusiasts. Jumbo koi feature vibrant colors and patterns, with some varieties featuring butterfly fins and intricate designs.

Fourth, the shipping cost. Shipping is an important factor to consider. Depending on where you are located the shipping costs can vary greatly.

 

Fifth, the beauty. Overall perceived beauty. Ultimately, buy koi fish is like purchasing a work of art. What you think is the most beautiful koi, is going to be the best for you personally, even if it is not a champion koi. Just like a cute mutt for a puppy can be even cuter than a purebred. When planning to compete in koi shows, it is a whole different conversation on price, since there are other factors to consider.

 

Anything strike you as special about this fish here? Well, it's worth 1.8 million dollars. It won grand champion at the All Japan Koi Show in 2017, and is the most expensive koi fish ever sold.

 

Koi may just look like an oversized goldfish, but they're not even remotely related. Koi are actually a type of carp, and today they're some of the most expensive pet fish in the world. But why? Koi were originally raised in Japan in the 1700s when rice farmers first began breeding them for their distinct colors and patterns, similar to how we breed dogs for their specific traits. And just like prized dog breeds, Japanese people take koi breeding very seriously.

There are regular competitions to name the top koi. Judges and buyers pay attention to how healthy its skin looks, its size and body shape, and how gracefully the fish moves in the water. But the most important trait of all is the koi's coloring. The best koi have a good balance of colors and patterns according to their variety. For example, there are koi with light blue spots, ones with large red patches on their backs, or all-metallic gold.

But the most winning fish often just boil down to these three varieties. They're often the most valuable. They dominate the shows, winning nearly every major category each year. And the better-looking the fish, the more a buyer is willing to pay.

Yeah, it depends. You can buy some small and cheap koi fish for a couple of bucks, but also, yeah, it can get up really, really high to thousands, ten thousands of dollars.

The breeders are located there, and they have experience with their bloodlines for many, many generations. You see, bloodlines are just as prized in koi as they are in dogs because some of these koi are the result of decades of selective breeding. I mean, just take a look at the koi's wild relative, the common carp. Its dark colors would be considered unattractive for a koi, but it's perfect protection against predators in the wild. So how do you get from this to this? Well, it's actually similar to how we got from this to this, except koi breeders mainly select for size and color and ignore fluffiness.

Koi have six types of color cells in their skin. Their cells can be red, yellow, black, white, blue, or metallic. Now in order to get a beautiful, reddish-orange pattern like the one on this 1.8 million dollar fish, you need to select for fish that have a white body and lots of red cells that concentrate in large patches. Red and white are important colors in Japanese culture, representing joy and purity. But having the right colors is only part of it.

A koi's color cells sit at different depths in the skin, some right near the surface and some deeper in, which ultimately determines how bright the fish appears. The brighter the fish, the bigger the price tag. Today there are about 120 varieties. To compare, there are about 200 breeds of dogs. But when it comes down to it, breeding koi is a lot harder. A single koi can give birth to hundreds of thousands of baby fish at a time.

I think we are talking about millions and millions of fish per breeder.

So breeders must choose wisely. One breeder, for example, reports that he starts with 3 million fish and selects 15,000 to raise over the first year. From that he chooses 1,000 to continue to raise the second year Yeah, it's a really hard job for the breeders.

But in the end, all that hard work is worth it. The breeder of this grand champion waited until she was nine years old to sell her at auction. And by bringing in a world record of 1.8 million, the breeder got not only a huge return on investment but a priceless reputation boost in the koi community.

To novice koi owners, the price of koi fish can be hard to understand. There are many factors that are considered when determining the price of a koi fish. Learn how koi fish price is determined and what makes one koi a champion compared to dozens of others.

The recent record for the price of one koi was recorded at $1.8 million USD in late 2018. The koi, called S Legend, is a 3′ 3″ female with a very traditional kohaku color pattern. Kohaku koi are the most coveted color pattern, featuring “steps” of red across a vibrant white background. Considered “living art,” many expensive koi fish live long, pampered lives and can be bred to result in thousands of offspring.

There are many pattern variations in the koi world. Some have very specific requirements, such as a showa vs. sanke, while others are more loose. When determining which pattern a fish may fit into, some fish may not fit any predetermined category! When it comes to determining a koi fish price, official koi show judges may be consulted to classify a fish. Depending on the judge, a koi fish’s price may go higher or lower; it can be a matter of personal preference.

 

Once the color pattern has been established, the vibrancy of that pattern is evaluated. Most patterns show be rich, deep colors with little “bleed” across scales. Some fish scales are actually removed prior to shows in hopes of keeping the color patterns more defined. For the gosanke, kohaku, sanke and showa, the red and black color bands should be in “steps” along the dorsal ridge. The more steps in a fish’s pattern, the more valuable it is. Again, some of this differentiation can be highly subjective, which can greatly alter a koi fish price.

The most expensive koi fish are almost always females. Why is this? Female koi tend to have wider bodies due to their enormous egg mass. This gives them a more preferable, “torpedo” shape. Koi fish are expected to be widest at their pectoral fins, then slowly taper off to the tail. Male koi tend to be more slender, and are therefore not as valuable.

The best place to see the areas most expensive koi is at your local koi show. Yes, there are beauty pageants for koi just like dog or cat shows. In these competitions, color and size variations are pitted against each other and the biggest fish face off for Grand Champion. Typically, Grand Champions have to be either a showa, sanke or kohaku, or a member of the “gosanke.” Non-gosanke winners are typically “B” awards.

You can find a show near you through your local koi club or koi vendor. These shows are typically free to the public.

When it comes to pet koi, most fish are worth more in sentimental value than show fish currency. At our practice, most of the koi fish we see are not show quality, but we do have a few clients with very expensive fish. If you are interested in getting your fish appraised, you may want to contact a trained judge.

No matter how much your fish cost, we will treat them just the same. As long as you love your fish, that’s all that matters.

Prices are not always set as profit on costs, prices reflect the ennobled value of a koi. There’s a big difference in such thinking.

A top quality koi is not a chunk of gold. Gold has a perceived value, but the actual price of gold fluctuates depending on supply and demand. That cost relates to the cost of production. If I own gold, it can be valued at the ruling price of the metal, and I can sell it at whim should I think I can make a favourable profit. The gain or loss on my original investment, will depend on the current buying and selling prices... and how patient I can be in waiting for the most opportune moment to capitalise on market demand.

A top quality koi should rather be equated with an investment in art. When I buy a work of art, it is not only the actual painting or sculpture for which I pay, but I am also buying into the fame of the artist which grew out of an appreciation for what the artist has come to represent: talent, skill, interpretation, and expression. Even so, one buyer will be willing to put a higher price on a work of art than someone else whether for the sake of the privilege of owning it, or for recognising that its market value has not yet maxed out and that a good return on investment awaits in the future.

A price is set somewhere between the minimum the seller is willing to accept and the most the buyer will pay. That is what determines the price of a regular commodity. If the commodity is something exceptional in the view of the buyer who wants it more than anyone else, then all rational thought is forgotten. Such as in the anecdotal story of the koi collector who promptly traded his Rolls Royce for a show winnining koi.

Koi have similar values to that of gold and of art. However, a koi has a limited lifespan and will in time cease to exist unless it can be immortalised in a photograph or preserved by taxidermy. And unlike a precious metal or a work of art, a koi can change for beter or worse in its lifetime.

 

We acquire a koi for its rarity, aesthetic charm, and its expected future performance. We also pay for the intrinsic ennobled investment which it represents: the accumulation of the efforts and vision of many generations of breeders to create ornamental charm through genetic molding. A koi came about through skillful breeding and it has the potential to carry its qualities over to a next generation. It is therefore not only for the value of what it is, but for what it can become, and for what it can reproduce, that will dictate the price tag.

ecause koi is an ornamental fish, its value is affected by perceived qualities and breeders aim to improve those qualities through parentage and selection criteria. While color and color pattern play a part in determining the value and marketability of mass produced, commercial fish, those are not prime factorsin determining the value of individual, high quality fish from well-known producers. These breeders created lines that have shown consistent, predictable and sought after qualities. Great value is attached to such a lineage. The essential elements determining the value of fish that breeders try to improve genetically are listed below.

Body conformation. From a human perspective, the koi should have a symmetric, tub-like body with dynamic, broad shoulders. The body gives the producer insight into the potential for growth over the adult life of the koi and, therefore, is one of the most important value determinants. Late maturation and lower fecundity ensure a longer ‘show life’. Males with a plumper body form can compete with the females in the show arena for a longerperiod, but reproduce better in an artificial, one-on-one environment without the competition of slimmer suitors.

Swimming style. A quality of ‘graceful’ swimming is sought. For older fish words like ‘dignity’ or ‘character’ may also be added. Swimming style is the aesthetic value of the biokinetic expression of movement, directly related to skeletal and muscular qualities of the fish. ‘Gracefullness’ in the swimming style refers not only to powerful but fluid movement but also to the calming effect it has on the viewer. Feeding behavior is the primary cause of this movement, and possibly tameness brought on through domestication and repeated handling may also help in creating this illusion. To swim ‘lively’ fish must be healthy and in an environment conducive for feeding i.e. low in ammonia concentration and high in dissolved oxygen. Failing these conditions the koi will exhibit a ‘lethargic’ or ‘listless’ swimming style. On the other end of the scale ‘frantic’ swimming is exhibited when the fish are frightened or tries to escape near-toxic, unfavorable water conditions.

Color quality. The brightness is determined by the number of chromatophores in the skin and their propensity for collecting pigments, normally during their development but also later, from the environment. The purity of color to separate into aesthetically pleasing colors and patterns as viewed through different skin layers. Males tend to be brighter at an early age increasing their initial show value.

Color durability. The ability to maintain or increase the pigment ‘loading’ of the chromatophores through synthesis and the ability of pigment cells to migrate through different skin layers to ‘develop’ a pleasing pattern can add to the value of an individual. Intracellular reaction of chromatophores - in particular melanophores and likely cyanophores - to environmental stressors can reduce the value. This could be under both genetic and environmental control and the breeder tries to reduce these sensitivity to the environment.

Color distribution. An aesthetically pleasing pattern to match the particular variety is normally determined by selection. Patterns are not repeatable, but pattern types, pattern edging and shapes do run in families and can be recognized and thus predicted to an extent. Therefore specific bloodlines are more sought-after than others.

These attributes encompass the guidelines set out to nationally accredited judges when judging at koi shows worldwide. As described in Hoshino and Fujita in 2006, and De Kock and Watt in 2006, judges using a 100 point system award up to 50% to ‘body shape’ evaluation and 20% to colour evaluation. Pattern, ’gracefulness’ and ‘dignity’ carry a 10% contribution each to the overall evaluation. The importance of an aesthetic pleasing body and movement is left in no doubt.