Kim,
I'm likely to go long on this one so bear with me...........
Buying koi is nothing short of difficult with so many things to consider. Body, skin, colour, pattern, male vs female, future vs now, growth vs not, breeders traits, budget, pond conditions etc etc etc. This list goes on and on. I know Geoff said its a money game and to an extent it is IF YOU LET IT BE but its doesn't have to be as you only spend what your comfortable with and have the knowledge to appreciate what your buying.
If you cannot see the difference between a koi at £XXX vs a koi priced at £XXXX then don't spend the extra money.
If you have not got the pond proven to raise the level of koi you want to buy then don't spend the money
Add in the factor of price here and then it get complicated and this is the area i wish to focus on. As just because a koi is a certain price doesn't mean its worth it / a guarantee of success. It is up to you as the hobbyist to educate yourself using ALL the tools at your disposal and only then will you be able to make and INFORMED choice as to the koi to purchase. Lets face it most koi dealers will price a koi according to what they think they can sell it for - then most hobbyists will assume that the most expensive koi will be the best.
On my trip to Japan in 2008 I physically saw the dealer I was with buying koi at a SET PRICE (eg:- 20,000yen) and then placing them on his website at various prices between £495 - £695 yet they all cost the same money to buy, ship, vat, QT etc - yet the profit difference was up to £200 extra on the top priced koi as he clearly felt he could sell those koi for that price (and did). Now unless he is a terrible business person then the cheapest koi will be making him a profit and the others just extra profit. Now the thing that i learnt was that in that case the bowls of multiple koi were all bought out of the same pond at the same price - so the breeder deemed them to be the same level TO HIM the dealer then selects through them and chooses which ones he feels are better / more saleable and applies his margins to them.
If you can then use your knowledge to pick the best koi from that bowl ignoring the prices then you might just get a koi that meets your expectations. Whether we like it or not here in the UK pattern drives the majority of purchases. If you can learn to IGNORE it in terms of the pricing and pick the koi that ticks the most boxes for what you want to do with it then you could snap up a koi that is as equal to its bowl mates in quality but has been priced fairer due to it not be so saleable / having a pretty pattern.
Often the other missed aspect is condition of the koi when you see it. It is all to easy to pass a koi over due to it being a little down in terms of condition and yet when it comes into condition then it suddenly shines. It pays to know how a dealer is keeping the koi to learn about these kinds of things.
As for learning then:-
I am still a fan of good old fashioned books - i particularly like the Kokugyo book 2 as it shows so many young koi developing through to older.
I am also a fan of koi shows as an education experience - go along on results day and find say Young Champion - speak to the owner if possible about how and when it was bought, how it was raised, then find the koi that placed under it - 1st size 3, 1st size 4, 2nd in those sizes, 3rd in those sizes and see if you can see why - any doubts get hold of a judge and have them talk you through it.
I am also a fan of finding good dealers who will spend time with you helping you learn.
I am also a big fan of the local koi club scene - the experience in these is huge and I think too many hobbyists are substituting the internet for this and are missing a trick as this offers a third hands on learning option. Find a good hobbyist in a club and learn from them.
Just to prove you can buy a good koi for sensible money try these two of mine. These are the purchase pictures.
- Bought for £200 as a 39cm unsexed tosai in July 2009 which turned out male but is now around 68cm yonsai (4) and has won us multiple awards on the show circuit including 1st size 5 Sanke at the SE Show 2011. Funny thing was this koi was part of a batch of ten bought at an auction and 7 had sold by time we visited.
- Bought as a £550 as a 55cm Nisai in Jan 2010 and is now around 75cm yonsai (4) and has won a Grand Champion award at a koi show last year.
Both of these koi would now take significantly more than their purchase price to prize them off me IF i would sell them at all.
THE DANGER IS THE MORE YOU LEARN THE MORE YOU CAN IN FACT PRICE YOURSELF OUT OF YOUR OWN BUDGET AS IN YOU CANNOT AFFORD WHAT YOU REALLY LIKE.