Caught in the waters of Bristol Bay and Norton Sound, the true red king crab is the most prized species of crab in the world, with strong demand from consumers in Japan, the US, and Europe. Alaska's largest harvest of red king crab takes place in the waters of Bristol Bay. Roughly 100 boats participate in the fishery and harvest millions of pounds over a period of 2 to 3 months. Alive, red king crab are actually a dark burgundy in color.