Mystery Buyer Pays Record $50.1 Million for T. rex Fossil at Sotheby's

A 67-million-year-old Tyrannosaurus rex skeleton, dubbed "Gus," fetched $50.1 million at a Sotheby’s auction on Tuesday, establishing the highest price ever paid for dinosaur bones. The sale surpassed the previous record of $45 million for a stegosaurus sold by the same house earlier this year and the $32 million paid for the "Stan" T. rex in 2020.

The specimen, an adult measuring about 12½ feet tall and 38 feet long and estimated to be 61 % complete, includes a well-preserved skull, jaw, feet and rare bones such as a furcula. Discovered in 2021 on a South Dakota ranch, the fossil was named after the property owner, Gary Licking, who died during its five-year excavation and preparation.

Sotheby’s vice chair Cassandra Hatton said the fossil’s careful excavation and documentation contributed to strong market demand. The anonymous buyer, who participated by phone, outbid six other contenders in a ten-minute bidding round, exceeding the pre-sale estimate of $20-$30 million.

The Society of Vertebrate Paleontology urged the new owner to donate the specimen to an accredited natural-history museum, emphasizing its scientific and educational importance. "Our hope is that the new owner recognizes the extraordinary scientific and educational value of Gus the T. rex and that they aim to keep it in the public trust by immediately donating it to an accredited natural history museum," said society president-elect Kristi Curry Rogers.

Previous high-profile dinosaur sales, such as the stegosaurus "Apex" and the T. rex "Sue," remain on public display at major museums, highlighting the potential for significant fossils to be accessible for research and education.