A bunch of 24 red grapes offered up for auction in Japan fetched a high bid of $11,000, making them the most expensive bunch of grapes on record.

The auctioneer in Kanazawa said businessman Takashi Hosokawa, who owns a chain of hot spring hotels in Ishikawa Prefecture, was the top bidder for the bunch of Ruby Roman grapes, which hit the market in 2008 and are prized for their high sugar content, low acidity and juiciness.

Hosokawa told reporters he offered the amount -- which translates to 1.2 million yen -- to celebrate the 12 years since the breed first came to market and to mark the first auction of Reiwa, the new Imperial era that began in May with the coronation of Emperor Naruhito.

Only about 26,000 Ruby Roman grapes are expected to be sold this year. Only a select number have been made available to keep demand and exclusivity high.