In the final New Year’s auction at Tokyo’s famed Tsukiji fish market, the owner of an international sushi restaurant shelled out more than $300,000 for a prime bluefin tuna and said he was “very happy” with the result.

The market handles 480 types of seafood daily. That's around 1,600 tonnes worth 14 million dollars.

But the Tokyo's famous market is closing down to make way for developments in preparation for the 2020 Olympics.

Though the move will not mean the end of the tuna auction, many wonder if the government risks losing the massive value in Tsukiji's brand name.

TRT World's Laila Humairah reports.