A 67-million-year-old Tyrannosaurus rex skeleton named Gus sold for $50.1 million at Sotheby’s in New York on July 14, becoming the most expensive dinosaur fossil ever auctioned and intensifying criticism from scientists over private ownership of major specimens, per artnews.com.
The sale took place on Tuesday after 19 bids. The hammer price was $43 million before premiums, pushing the final figure to $50.1 million. That exceeds the previous record of $44.6 million set in 2024 by the Stegosaurus skeleton Apex, also sold at Sotheby’s.
Gus was unearthed between 2021 and 2023 on a ranch in South Dakota. The fossil measures about 38 feet long and 12.5 feet tall. It includes 183 fossil bone elements and is roughly 63% complete by bone count, making it one of the most complete T. rex specimens known. The name honours Gary “Gus” Licking, the late ranch owner on whose land it was found.
The result continues a trend of museum-grade fossils entering the luxury collectibles market alongside contemporary art and rare watches. In recent years Christie’s sold the T. rex Stan for $31.8 million, while a juvenile Ceratosaurus fetched $30.5 million in 2024 against a $4 million to $6 million estimate.
Paleontologists have raised concerns that rising prices place scientifically important fossils beyond the reach of public institutions. Richard Butler, a vertebrate paleontologist at the University of Birmingham, said marketing fossils as artworks at high prices was “very concerning,” noting that specimens outside museum collections are effectively lost to research.
Stephen Brusatte, a paleontologist at the University of Edinburgh, said the sale was legal but added that “those prices can only be paid by the super-rich”. Researchers warn that privately owned fossils may be withdrawn from museum loans or resold, limiting long-term scientific access.
Sotheby’s vice chairman Cassandra Hatton has previously argued that commercial fossil hunters help recover and preserve specimens that might otherwise remain undiscovered. The auction house noted that Apex, bought in 2024 by hedge fund billionaire Ken Griffin, is now on long-term loan to the American Museum of Natural History.
The sale concluded Sotheby’s latest “Geek Week,” which features science, technology and sports memorabilia aimed at ultra-high-net-worth collectors.
Dinosaur fossil auctions have drawn increasing attention since 2020, with prices climbing sharply as private collectors compete for rare specimens. Museums have struggled to match bids, prompting calls for regulation or incentives to keep key finds in public hands.
•Featured image: “Gus,” a 67-million-year-old Tyrannosaurus rex sold at Sotheby’s for more than $50 million/Matthew Sherman/Courtesy Sotheby’s