Ryan, true but not correct. True but not correct?? Yep
Koi sales at the high end is about relationship. This is called intangible sales.
Even though the buyer sees this as a transactional sale of a single item, it is about relations and future sales.
Every hobbyist has a shelf like, not unlike the fish's 'show life'. During that life time of buying, they will likely spend more and more for koi albeit buying less and less koi in total numbers. The entire marketing model is actually to have a koi kichi buy many lower quality koi to gain experience and slowing trade back five or six in order to buy two or three and eventually trade back three to buy one. This works well for both new ponder and dealer alike as experience is gained and fish are no longer being killed and at the same time, the eye of the hobbyist is developing to a point where they can truly appreciate good koi. Meanwhile the dealer has sold many fish along the way. Both the Japanese breeder and dealer know this model. So they decide if a fish will be reimbursed or not based on the customer's potential- yes there are tategoi buyers as well as tategoi koi.
I have three fish missing right now valued at $13,000. One in Japan and two in England. I have a few friends who are missing some very very expensive fish. This stuff happens. After all, they are fish and highly vulnerable to predation and disease! I'd say that if you are doing this long enough your loses can amount to, over an extended period of time, about 30% of all fish you leave over there. Of the six I have lost over the 1990's, one was replaced and three are promised to be replaced. Haven't seen that yet however.

Therefore, Replacement of EQUAL quality is done on a one by one basis against a general policy of NO REFUND for leaving fish in a mud pond or at a facility.
Times are changing and many are having second thoughts about leaving fish in Japan for grow out these days. It just isn't like it used to be a decade ago. Just as the preferred Japanese Style show is now gone, I can envision a day when the grow out in Japan experience will cease from both the breeder and consumer camps. The fish have just become too expense to gamble on.
But do remember, if you leave fish over there to revisit so you can learn how koi grow, and you get to also see siblings, as well as your friends purchases, and the new crop of younger spawns ( brothers and sisters of your purchase) you are really paying for the education as much as the fish. The fish you buy becomes a vehicle that makes all that happen. I sometimes look at it as 'tuition to nishikigoi college'. Hey, my kid is costing me $45,000 a year for her education! A few thousand for mine seems like a bargin!
Sue, I just wanted to say I'm sorry for your loss, I have felt it and I know it stings. But it is part of the game of koi. Hope the showa makes it over OK!
JR