T. rex skeleton dubbed "Gus" slated for $20-30 million Sotheby's auction

A nearly complete Tyrannosaurus rex skeleton, nicknamed "Gus," is set to be auctioned by Sotheby's at its New York office on Tuesday. The fossil, measuring about 38 feet in length and 12.5 feet in height, was uncovered on private land in Harding County, South Dakota, in 2021 and is estimated to be roughly 67 million years old. Sotheby's lists the starting bid at $19 million and expects the final price to fall between $20 million and $30 million.

The specimen, described as a very large, robust adult, comprises nearly a thousand bone fragments collected by Theropoda Expeditions, the firm that led the excavation. The dinosaur is named after Gary "Gus" Licking, the ranch owner where the find was made; he died before the skeleton was fully assembled.

"Gary had for years roamed around his 6,500-acre property and seeing T. rex teeth and little bits of fossils and such, and he realized that there was probably something really important under the ground," said Cassandra Hatton of Sotheby's in a video accompanying the sale.

Gus ranks among the largest and most complete T. rex specimens discovered. It follows previous high-value dinosaur sales, including the 1997 auction of the T. rex "Sue" for $8.4 million and the 2024 sale of the stegosaurus "Apex" for $44.6 million. Paleontologist Scott Persons, curator of natural history at the South Carolina State Museum, noted that the rising prices reflect growing market demand for dinosaur fossils. He added that such sums could potentially fund research programs at public museums.