The latest victim of Japan’s recession is round, sweet and famous for being shockingly expensive.

No not those kinds of melons.

The first two Yubari melons of the season were auctioned Friday in northern Japan and fetched 500,000 yen (US$5,200).

Pricey? Certainly. But it’s practically a steal if you consider last year’s winning bid - a record 2.5 million yen, or about US$26,000. In 2007 they sold for 2 million yen.

It appears the world’s swankiest melon is in a major deflationary slump.

The orange-fleshed melons are grown only in the city of Yubari, a small town on the northern island of Hokkaido. Valued for their perfect proportions and taste, they are typically given as gifts by Japanese during the summer.

Department stores and high-end retailers sell the fruit to the public for $50 to $100, though prices can run much higher depending on quality.

Now how about those melons!

Popularity: 4% [?]

If you enjoyed this post, make sure you subscribe to my RSS feed!