The truffles we’re going to talk about today are not the delectable chocolate treats that are found in bakeries and candy shops. These truffles are a type of fungus that is found at the root of trees. They are like an expensive mushroom, but so much better, which is why their price tag is so much higher!
Truffles are part of the fungus family that grows entirely underground. While mushrooms sprout above ground, truffles stay underground at the tree roots. Truffles are rare to find, so when they are found, they come with a hefty price tag.
Truffles are seasonal and difficult to grow. Unlike most crops that you can plant and harvest at home, truffles require perfect conditions to grow, and it will often take years for them to cultivate. Once a truffle has been cultivated, it needs to be harvested and used relatively quickly, as truffles have a very short shelf life.
All of these factors combined and what make truffles very expensive, so let’s dive into the list of the most expensive truffles!
Most Expensive Truffles
White Alba’s Truffle – $61,250
The White Alba’s Truffle sold for $61,250 in December of 2014. The white truffle weighed a whopping 4.16 pounds and was found in the Umbrian region of Italy. The White Alba’s Truffle is dubbed the largest truffle in the world because of how big it is and how much it weighs. Some truffles are more expensive than the White Alba’s Truffle, as you’ll see on our list a little later; however, they are not as big or as heavy as the White Alba’s Truffle. It was nearly the size of a football!
The White Alba’s Truffle sold for $61,250 to a buyer in Taiwan who made the purchase over the phone. Truffles are almost always purchased by chefs but this one was purchased by a gourmand in Taiwan.
Italian White Truffle – $118,000
This Italian White Truffle sold for $118,000 in November of 2021 at the 21st World White Truffle Auction in Alba, Italy. It was purchased by Hong Kong chef Bombana Umberto. Chef Bombana Umberto specializes in gourmet food that uses these prestige truffles as an ingredient, so it is no surprise that he purchased this large Italian White Truffle for $118,000.
Fresh truffle harvests have a very short shelf life, so they must be used quickly for optimum truffle flavor. This was no problem for Chef Bombana Umberto as he immediately put the truffle to use in his kitchen.
White Truffle – $95,000
This white truffle was sold to a Russian oligarch for $95,000 in 2013. Vladimir Potanin was considered the fourth-wealthiest man in Russia at the time of the purchase. Potanin was worth $14 billion at the time of the purchase, so $95,000 for a fungus probably didn’t put a dent in his fortune. Regardless, Potanin kept the white truffle for himself as he took the truffle back to his estate in Moscow.
Auction Of the Italian White Truffle (2010) – $330,000
These two Italian white truffles were sold together for $115,000 each to Hong Kong billionaire Stanley Ho. Not only was Stanley Ho a billionaire, but he was also a casino owner in Hong Kong. The pair of European white truffles weighed a collective 2.86 pounds and sold for $330,000 total.
This wasn’t the first time Stanley Ho had purchased truffles for a hefty price. In 2007, he paid the same amount for a 3.3-pound truffle that hadn’t yet been unearthed.
16th International White Truffle Auction – $108,000 US
At the 16th International White Truffle Auction on November 8, 2015, a collection of white truffles was sold to Sam Chan, a famous hotel chef, for a total of $833,000 HK which is equivalent to approximately $108,000 US. They weighed a total of 900 kilograms. All of the proceeds from the auction went to Hong Kong charity “Mother’s Choice” to help young girls who are pregnant.
12th World White Truffle of Alba Auction – 105,000 Euros ($114,000 US)
Jeannie Cho Lee purchased a 900-gram white truffle for approximately $114,000 US at the 12th World White Truffle of Alba Auction. Jeannie Cho Lee purchased this truffle and immediately gave it to Hong Kong’s Truffle King chef Umberto Bombana to prepare for the event. Chef Umberto Bombana made an 8-course truffle menu to include salads, pasta, and ice cream; proving that truffles can be used for any course!
Tuscany Truffle 2007 – $330,000
Remember Stanley Ho who purchased the Italian White Truffle in 2010? He also purchased this white truffle in Tuscany in 2007 for $330,000. He was immediately interested in this truffle before it made its way out of the earth. It was discovered 2.5 feet underground and was growing wider rather than deeper. This truffle was found at the root of the same tree where a 1.1-pound white truffle had been found 10 years earlier.
Truffle hunter Cristiano Savini and his dog, Rocco, discovered this truffle. It took Savini and his father nearly two hours to dig the truffle out of the ground. They immediately flew it to Hong Kong to auction it at the Macau auction where Stanley Ho was the favorite bidder to win the trophy white truffle. Stanley Ho purchased the truffle for $330,000 and the proceeds went to a charity in Italy.
What Makes Truffles So Expensive?
Truffles are rare. All of the elements have to come together perfectly for truffles to grow. To make it even more complex, truffles can only be harvested at certain times of the year. Burgundy truffles can only be harvested between September and December while white truffles can be harvested between December and February.
Truffles take years to grow. While most crops are planted and harvested within the same year, truffles take years to cultivate for harvesting. Truffles take no less than five years to grow, with some of them taking up to 11 years to cultivate. All of the elements have to be right, too. Without the right amount of moisture and the right trees (typically oak), truffles can’t grow.
The search for truffles also contributes to their value. It can take years of truffle hunting to find ones that are ready to harvest. Since truffles are located underground, you need a special locator to find them – a dog. Truffle hunters use dogs to sniff out the location of truffles that are ready to harvest. They can be located just below the ground, or they may require digging a few feet deep to access them. Being so labor-intensive to harvest only adds to their value.
With truffles, the location and conditions can change every time. Truffle hunters may find truffles located in the same general location as before but that’s not always the case. It depends on the trees, moisture, and temperature of the ground to determine if truffles can be grown. The best climate for truffles is in northern Italy where the temperature remains cool, moist, and there are regions full of oak trees. The biggest threat to truffles is the harvesting of oak trees. Without oak trees, truffles can’t grow.
As far as size goes, the bigger the truffle, the more expensive it will be. That’s because the bigger truffles retain more moisture than smaller truffles. The more moisture the truffle has, the more flavorful the truffle will be.
Small truffles are more affordable because they don’t have the same full-bodied flavor as large truffles. You can purchase small truffles at gourmet food stores for as little as $16 for a one-ounce bottle. Unfortunately, a little doesn’t go a long way with small truffles, as you can easily use an ounce of truffles in just one dish.
The truffle market is around a $6 billion industry. Truffles are used in butter, for truffle oil, condiments, and as accompaniments to various dishes taking expensive food experiences to the next level.
Conclusion
We were surprised to see that truffles were being sold for the same price as a house! Even the least expensive truffle on our list that was sold for $61,250 caused us a little sticker shock. Would you purchase a piece of fungus for thousands of dollars? If so, we hope you enjoy every last bite of your investment!
