A Koi Carp fish has sold an auction in Japan for a record £1.4 million - £1 million than the previous highest bid.

The 3ft 3ins long red and white fish was bought by a collector from Taiwan after a fierce bidding war at the Saki Fish farm in the city of Hiroshima.

The female Koi, which has the name S Legend, is of the Kohaku variety and the most recognisable among the many varieties of carp that can be bought.

Miss Yingying from Taiwan emerged the successful bidder, buying the fish from breeder Kentaro Sakai for 203 million Yen.

She plans to leave the nine-year-old fish to compete in the All Japan Koi Show where it is expected to win for a second year running.

The 3ft 3in long red and white Koi Carp was bought by a collector from Taiwan after a fierce bidding war at the Saki Fish farm in the city of Hiroshima

The female Koi, which has the name S Legend, is of the Kohaku variety and the most recognisable among the many varieties of carp that can be bought. Pictured: The sale lot in which S Legend was bought for £1.4 million

After a tense battle, Miss Yingying from Taiwan emerged the successful bidder, buying the fish from breeder Kentaro Sakai for 203 million Yen

Although there is no prize money for winning, the prestige of taking the title two years in a row will only enhance the reputation of the fish, according to British Koi expert Tim Waddington.

He said news about the record £1.4m sale quickly spread among Koi Carp dealers in the UK.

He told Mail Online: ‘This is a record price paid for a single Koi Carp. At 101cm it is very large and from the favoured Kohaku variety.

'Not much is known about the woman who bought the fish other than she is called Miss Yingying and is from Taiwan.’

Photos from the auction – and the winning bid – were posted on the Facebook page of the world-famous Saki Fish farm which has been breeding Koi for over 100 years.

Fans and collectors of Koi Carp will travel from all over the world to get a glimpse of the £1.4m fish.

Mr Waddington, 43, from Warrington, Cheshire, has visited Japan over 60 times to source Koi Carp for clients in the UK.

He will be travelling to see the most expensive Koi in early 2019 when it is expected to be in Tokyo for the All Japan Show.

Although there is no prize money for winning, the prestige of taking the title two years in a row will only enhance the reputation of the fish, according to British Koi expert Tim Waddington

The new owner will have the opportunity to breed the fish which has the potential produce up to 500,000 eggs, of which no more than 5,000 will be of the right quality to sell

The new owner will have the opportunity to breed the fish which has the potential produce up to 500,000 eggs, of which no more than 5,000 will be of the right quality to sell.

Mr Waddington said: ‘Koi can live up to the age of 25 but it is likely with this one that it will continue to compete in shows for another two years.

'People in the Koi carp world are very excited by the sale as it is an incredible price for a single fish. The previous best price was around £400,000.

'It really is a crazy world.'

Koi Carp, which originated in Japan, come in more than a dozen varieties and are distinguished by their colouring, patterning, and scalation.

The Kohaku variety is a white-skinned koi, with large red markings on the top. To be the perfect Kohaku the white has to be pristine without any discolouration of yellowing.

Translated into English the name means red and white and Kohaku was the first ornamental variety to be established in Japan.

While £1.4 million is a record sale collector of Koi collectors can fill their ornamental ponds with other varieties that can cost as little as £12.50.

Larger Koi and with near perfect colouring can sell for up to £2,000 with the higher quality going for £20,000.

Japan remains the biggest producer of Koi with 90 per cent of production destined for export.

In 2016, Japan exported a record 295 tonnes of koi carp bringing in revenue of over £28 million.