Considered a delicacy in Japan, snow crabs can be found in the waters off the Tottori prefecture on the island of Honshu, which is situated between Hiroshima and Osaka.
In a story that some might find hard to believe, a bidder in Japan just paid 5 million yen-or $46,000 USD-for a 2.7-pound snow crab at an auction in Tottori, and it is likely to be recognized as a Guinness World Record.
The previous Guinness World Record was set past year with a winning 2 million yen (about $18,000) bid.
The 5 million yen snow crab will end up on a few lucky diners' plates at an upscale restaurant in Tokyo's posh Ginza neighborhood. "But it's the custom", Hamashita said in an interview with CNN.
The swimmer was caught shortly after the fishing season officially opened at midnight on Tuesday and was snapped up during the year's first auction at Tottori port.
A spokesman for the successful bidder, who paid five million yen for the 2.6lb crustacean, said: 'I believe it is a good crab filled with meat'.
In Japan, fishing season is celebrated with a kick-off auction, called the "festive quotation market", that took place the day after the opening of crab-hunting season on November 6.
According to the organizers, auction attendees were surprised by the price as well, with many shouting "banzai" (an auspicious cheer meaning "long life") and applauding.
Called zuwaigani in Japanese, snow crabs are traditionally harvested during colder months. "We came to this year's first auction hoping that we would bid the world's highest price again", an official from Kanemasa Hamashita Shoten told the Japan Times.