Ah, Brady, isn't value in the eye of the beholder?
Most koi are simply a commodity. But fortunately there are those whose beauty stands out from the crowd and they are few enough that a market exists that measures value beyond matters of size and freight cost. What we need are more hobbyists who can appreciate enough of the difference to support the effort to produce ever more and better koi.
On another thread a few weeks ago I mentioned looking over Axelrod's Koi Of The World book for the first time in a lot of years. We have a number of domestic breeders in the U.S. who surpass most the "winning" koi in that book... koi from the 1960s, but some among the best there were in the 1960s.
Where are domestic U.S. breeders today in relation to Japan? In my opinion, there are a number of high quality koi being produced equal to the mid-range of Japanese-produced koi; and a few that come within the upper range of Japanese koi, although well short of the best Japan can offer. That's pretty good progress for some guys sloshing around in the mud. How much longer will it be before somebody produces a goodly number falling in the upper range and an occasional one that comes close to the best from Japan? ... probably not as long as it took to get where we are. I think it will occur in the breeding careers of the leading breeders producing today. ...Then one day we will get to that fine point, like in the Olympics, where superiority is measured in such slight increments that normal mortals cannot appreciate the difference between first place and fourth (and I don't mean Jamaican bobsledders!). I doubt I'll see that in my lifetime, but is a global economy. All things will reach an equilibrium in time...more time for some things than others.