T rex fossil ‘Gus’ sells for $50.1m at New York auction, setting new record
ONP Summary
A Tyrannosaurus rex skeleton nicknamed 'Gus' sold for $50.1 million at Sotheby's in New York, establishing itself as the priciest fossil ever auctioned. Paleontologists have expressed concern that the specimen's acquisition by a private collector may restrict researchers' ability to study one of the most intact examples of the extinct species.
Progressive:Research threatened by private wealth — progressive outlets warned that ultra-rich collectors acquiring rare fossils for personal ownership lock specimens away from scientists, undermining paleontological research.
Moderate:Market dynamics exclude institutions — centrist outlets observed that escalating prices driven by wealthy bidders make it impossible for museums and research bodies to compete, leaving scientists dependent on buyer goodwill.
Skeleton judged to be one of the largest and most complete ever unearthed was excavated on a ranch in South Dakota
A vast, fossilized Tyrannosaurus rex nicknamed Gus sold at Sotheby’s in New York on Tuesday for $50.1m with fees (£37.4m) to a phone bidder – making it the most valuable dinosaur fossil sold at auction.
It also sold well above a pre-sale estimate of $20m to $30m (£15m to £22.4m).
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