The Tyrannosaurus rex skeleton known as "Gus" is set to be auctioned by Sotheby’s in New York City, with an estimated sale price between $20 to $30 million. Discovered on private land in Harding County, South Dakota, in 2021, the 38-foot-long specimen represents one of the most complete T. rex skeletons ever recovered.
Fossil Discovery and Specifications
Gus was unearthed on a 6,500-acre ranch owned by Gary "Gus" Licking, who identified fossilized remains on his property before the excavation began. According to Sotheby’s, the excavation process spanned from 2021 through 2023. Thomas Heitkamp, president of the excavation firm Theropoda Expeditions, noted that the team recovered nearly a thousand individual pieces of bone.
The specimen dates back approximately 67 million years to the late Cretaceous period. Measuring 38 feet in length and 12.5 feet in height, the skeleton is categorized by Sotheby’s as a robust, adult individual based on its overall size and bone development. Gary Licking died during the excavation process and did not see the final assembly of the fossil that now bears his nickname.
The Market for Dinosaur Fossils
This sector has seen significant valuations in recent years. In 2024, a stegosaurus fossil nicknamed "Apex" sold for $44.6 million, marking the highest price ever paid for a dinosaur at auction. That specimen was acquired by investor Ken Griffin, who subsequently loaned it to the American Natural History Museum in New York for public display.
This market is not new to Sotheby’s, which conducted the first dinosaur auction in 1997. During that event, a T. rex specimen named "Sue" sold for $8.4 million. That purchase was funded by corporate sponsors and resulted in the specimen being donated to the Field Museum in Chicago for scientific study and public viewing.
Perspectives on Private Fossil Ownership
Scott Persons, a paleontologist and curator of natural history at the South Carolina State Museum, stated that the increasing prices reflect a rise in market demand for these fossils.
Persons argued that the capital involved in these private transactions could be redirected to support long-term scientific research. According to Persons, the multi-million dollar sums associated with these auctions could instead endow research programs at public institutions, funding decades of fieldwork, the identification of new species, and the curation of findings for public education.
Key Facts About the Gus T. Rex Auction
- Estimated Value: $20 to $30 million.
- Starting Bid: $19 million.
- Discovery Site: Private land in Harding County, South Dakota.
- Dimensions: 38 feet long, 12.5 feet tall.
- Timeline: Discovered in 2021; excavation concluded in 2023.
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