T. rex fossil fetches record $50.1 million at auction
The Sotheby’s sale of “Gus” topped the prior dinosaur auction record and underscored rising demand for rare fossils among wealthy collectors.
By Sofia Marchetti · World Affairs Correspondent
2 min read
A Tyrannosaurus rex skeleton known as “Gus” sold for $50.1 million at Sotheby’s, setting a new auction record for a dinosaur fossil, CNBC reported. The sale shows how rare dinosaur specimens have become prized collectibles for wealthy buyers, even as some experts warn the market has limited protections around verification.
The price beat the previous record set in 2024, when Sotheby’s sold a Stegosaurus skeleton nicknamed “Apex” for $44.6 million, according to CNBC. Billionaire hedge fund founder Ken Griffin bought that specimen, CNBC reported at the time.
Gus had been expected to sell for $20 million to $30 million, CNBC reported. The final price came after a 10-minute contest involving seven bidders, according to the report.
A rare and unusually complete specimen
Sotheby’s said Gus was found in South Dakota and is about 67 million years old, according to CNBC. The auction house described it as one of the most complete dinosaur fossils discovered, with 183 fossil bone elements and about 61% completeness by bone count.
The skeleton measures about 38 feet long and 12.5 feet tall, CNBC reported, citing Sotheby’s. Its skull is 54 inches long, placing it among the largest known T. rex fossils, according to the auction house.
Sotheby’s also said the fossil shows evidence of trauma, CNBC reported. Several ribs and gastralia had fractures that had healed, and multiple skull bones carried bite marks.
Cassandra Hatton, Sotheby’s vice chairman and worldwide head of science and natural history, said the specimen stood out not only for its rarity but for the quality of its excavation, documentation, preparation and care, according to CNBC.
Dinosaur fossils draw bigger prices
The sale extends a run of high prices for dinosaur remains at major auction houses. CNBC reported that a T. rex named “Stan” sold at Christie’s in 2020 for $31.8 million, then a record for a dinosaur fossil.
CNBC described dinosaur fossils as one of the fastest-growing areas of the collectibles market. The report said wealthy buyers have been looking for scarce assets that may hold long-term value, while auction houses have sought sales categories beyond traditional art.
The high price for Gus could encourage more dinosaur fossil owners to bring specimens to market, CNBC reported. Paleontologists and other experts, however, have raised concerns that the fossil trade lacks strong safeguards for confirming authenticity and vetting specimens, according to CNBC.
The identity of the buyer was not reported by CNBC. Sotheby’s held a public preview of the mounted skeleton at its Breuer building in New York before the auction, according to the report.
This story draws on original reporting from CNBC.