Wednesday, March 10, 2021

"The crazy market for the world’s most expensive pet fish"

Gram for gram these fish make those million-dollar Japanese tuna look like quite a bargain.

From The Hustle:

Certain specimens of the endangered Asian arowana have fetched up to $300k at auction. How did a fish become a status symbol? 

On a foggy morning in February 2017, federal agents in an unmarked car pulled over a white Toyota Corolla in Orange County, California.

Guns at the ready, they cautiously approached the vehicle.

In the driver’s seat sat Shawn Lee, a 29-year-old clad in a black baseball cap. As the agents drew closer, they could see that he was cradling a large plastic bag.

Inside this bag was the subject of the manhunt. It wasn’t a brick of heroin, an illicit firearm, or a bundle of dirty money.

“What’ve you got in there?” one of the agents asked.

“Fish,” said Lee.

And not just any fish: 8 writhing Asian arowana — the world’s most valuable aquarium pet.

An endangered species in the wild, the Asian arowana is illegal to import, sell, and, in most cases, own in the US.

Every now and again, tales like Lee’s will surface in the news, shedding light on a bizarro black market.

But elsewhere in the world, the fish is a highly coveted (and perfectly legal) luxury good. They’re prized by Yakuza gang members in Japan, business magnates in China, and superfish collectors in Europe — and a single prime specimen can cost more than a Ferrari.

How did this fish become such a hot commodity? Who controls the market? And why is it illegal on US soil?....

....MUCH MORE