T rex fossil ‘Gus’ sells for $50.1 million at Sotheby’s

NEW YORK

A 67-million-year-old Tyrannosaurus rex fossil nicknamed “Gus” sold for a record $50.1 million at Sotheby’s in New York on July 14, becoming the most expensive dinosaur fossil ever auctioned and setting a new benchmark for natural history collectibles.

The sale surpassed the previous record of nearly $45 million paid in 2024 for the stegosaurus fossil “Apex,” also sold by Sotheby’s. Before that, the T. rex specimen “Stan” held the record after selling for almost $32 million in 2020.

Described by Sotheby’s as one of the world’s largest and most complete T. rex fossils, “Gus” stands about 3.8 meters tall and measures approximately 11.5 meters long. The adult specimen is around 63 percent complete and includes an exceptionally preserved skull with a jaw full of large teeth, two well-preserved feet and several rarely recovered bones, including a furcula, or wishbone.

The fossil was discovered in 2021 on a ranch in South Dakota and was named after landowner Gary “Gus”

Licking, who died during the nearly five-year excavation, restoration and mounting process.

Sotheby’s had estimated the skeleton would sell for between $20 million and $30 million. However, the final price far exceeded expectations after a 10-minute bidding contest involving seven prospective buyers.

The identity of the successful bidder has not been disclosed, and Sotheby’s has not announced whether the fossil will be displayed publicly or remain in a private collection.

During the live auction, auctioneer Phyllis Kao encouraged bidders as offers climbed, joking, “Try a bigger bite. It’s a T. rex, after all.”

Following the sale, Sotheby’s Vice Chair Cassandra Hatton praised both the quality of the fossil and the care taken in preparing it.

“Gus is not only an exceptional find, but a specimen that’s been excavated, documented, prepared and cared for with real excellence,” Hatton said. “The market responds when great specimens are taken care of in the right way.”

The sale has once again highlighted growing tensions between commercial fossil collectors and paleontologists, who argue that scientifically important specimens should remain accessible to researchers.

Tyrannosaurus rex, whose name translates roughly as “king of the tyrant lizards,” lived during the Late Cretaceous period around 67 million years ago and stood at the top of the food chain across what is now western North America.