T-Rex fossil sells for record $50.13 million at US auction

A Tyrannosaurus rex skeleton, known as Gus, fetched a record-breaking $50.13 million at Sotheby's in New York, making it the most expensive dinosaur fossil ever auctioned. The specimen, estimated to be around 67 million years old, had an initial valuation between $20 million and $30 million.

The fossil was discovered on a ranch in Harding County, South Dakota, owned by rancher Gary "Gus" Licking, after whom it was named. Licking had been finding bone fragments for years before specialists were brought in. He passed away in February 2022, during the early stages of excavation.

Led by Thomas Heitkamp of Theropoda Expeditions, the excavation and preparation process spanned several years, concluding in 2026. Gus is considered one of the most complete T. rex specimens found, with approximately 61% of its bones intact, representing 75-80% of the animal's estimated bone mass. Missing elements were replaced with resin reproductions, mounted on a custom steel structure.

Despite the sale's legality, the auction has raised concerns among paleontologists. Smithsonian magazine noted that private ownership could restrict scientific study, as has happened with other privately held specimens. Sotheby's representatives stated the sale was legal, as the fossil was privately owned. The buyer's identity remains confidential, leaving it unknown whether it is a collector, institution, or foundation. This follows a trend of high-value fossil sales, such as a Stegosaurus skeleton purchased by Kenneth Griffin for $44.6 million in 2024.

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The sale was perfectly legal because the fossil was in private hands.