Tyrannosaurus rex fossil sells for record $50 million at auction

A Tyrannosaurus Rex skeleton known as Gus set a record for the most expensive fossil ever sold at an auction for $50 million at an auction Wednesday. 

The 67-million-year-old skeleton, unearthed in South Dakota, sparked a rapid bidding war at Sotheby's that lasted about as long as it takes to sear your favorite steak.

Sotheby’s said after the 10-minute bidding war, the eventual winner chose to remain anonymous. A move that renewed concerns from paleontologists about major prehistoric specimens disappearing into private hands. 

Scientists said the sale underscores a growing market that treats rare fossils like high-end collectibles. 

The Tyrannosaurus Rex

By the numbers:

Gus is an adult dinosaur specimen, measuring about 12 ½ feet tall and 38 feet long, that was unearthed in 2021 en-route to a five-year excavation and restoration process at a South Dakota ranch.

Researchers say the specimen is about 61% complete and "exceptionally preserved. Researchers noted that Gus’ jaw structure, prized for its powerful bite, is the kind of feature that helps them study feeding behavior. 

Included are also two "well represented" feet, a wishbone and a number of rarely found bones. 

The backstory:

The Tyrannosaurus Rex, a name that translates to "King of the Tyrant Lizards", is widely seen as the one prehistoric animal at the top of the food chain, who ruled during the late Cretaceous period.  

Since they were first discovered over 100 years ago, the fearsome dinosaur has been depicted in multiple forms of media, from children’s programs like Barney, to summer blockbusters from the "Jurassic Park" franchise. 

 

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