A Tyrannosaurus rex skeleton named "Gus" has become the most expensive dinosaur fossil ever sold after fetching $50.1 million at Sotheby's in New York.
The sale reportedly shattered the previous auction record for a dinosaur specimen, easily surpassing its pre-sale estimate of $20 million to $30 million following a bidding war that lasted roughly 10 minutes. Seven bidders competed for the fossil before an anonymous buyer secured the winning bid over the phone.
The result eclipses the previous record set in 2024, when billionaire hedge fund manager Ken Griffin paid $44.6 million for the Stegosaurus skeleton known as "Apex."
Discovered in South Dakota, Gus is believed to be approximately 67 million years old and ranks among the largest and most complete Tyrannosaurus rex specimens ever uncovered.
The fossil measures about 38 feet long, stands roughly 12.5 feet tall, and consists of 183 fossilized bone elements. According to Sotheby's, the skeleton is about 61 percent complete by bone count and between 75 percent and 80 percent complete by bone mass, placing it among the most scientifically significant T. rex discoveries.
The fossil also bears evidence of a violent life. Researchers identified healed fractures across several ribs and belly ribs, along with bite marks on portions of the skull and other bones. The injuries believed to have resulted from combat with another large predator or scavenging activity.
"Gus is not only an exceptional find, but a specimen that's been excavated, documented, prepared, and cared for with real excellence," said Cassandra Hatton, Sotheby's vice chairman and worldwide head of science and natural history.
The skeleton was excavated between 2021 and 2023 from a 6,500-acre ranch in Harding County, South Dakota, by Theropoda Expeditions. It was named after ranch owner Gary "Gus" Licking, who spent years discovering fossil fragments on his property before partnering with paleontologists to search for a complete dinosaur skeleton. Licking died during the excavation in 2022.
His wife, Dana Licking, later said she hopes the discovery allows more people to appreciate the history hidden beneath the family's land.
The blockbuster sale highlights the rapidly growing market for dinosaur fossils, which have become increasingly attractive to wealthy collectors seeking rare natural history artifacts. Earlier records include the T. rex "Stan," which sold for $31.8 million in 2020.
The booming private market has also sparked concern among paleontologists, who argue that scientifically important fossils are becoming increasingly inaccessible to museums and researchers as prices continue to climb.
The identity of Gus' new owner has not been disclosed, and it remains unclear whether the skeleton will eventually be displayed to the public or remain in a private collection.
