A Tyrannosaurus rex skeleton, named Gus, has set a new record by being sold for $50.1 million at an auction in New York. This event marks the highest price ever paid for a dinosaur fossil.
Sotheby’s, the auction house responsible for the sale, described Gus as a towering figure. The T. rex stands 12.5 feet tall and measures roughly 38 feet in length. Composed of 183 different bones and many rare rib specimens, it is deemed one of the largest and most complete T. rex skeletons ever found.
“The auction’s outcome has been years in the making,” said Sotheby’s Vice Chair Cassandra Hatton.
Gus was auctioned as a fully mounted structure, ready for exhibit. The last notable dinosaur skeleton auction was for a stegosaurus named Apex, which sold for nearly $45 million two years ago. Predicted to fetch between $20 and $30 million, Gus significantly exceeded expectations, selling in a rapid 10-minute bidding window involving seven participants.
The skeleton is named in honor of Gary “Gus” Licking, the late cattle rancher whose land in Harding County, South Dakota, held the fossil. Cassandra Hatton credited Thomas Heitkamp and his team for their efforts in unearthing the T. rex remains. The excavation took place in the Hell Creek Formation, a well-known dinosaur fossil site.
According to Sotheby’s, Gus dates back to the late Cretaceous period, around 67 million years ago. Discovering a T. rex skeleton like Gus is rare; only 32 such skeletons have been found since 1902. Gus is the third T. rex skeleton known to be at least 60% complete, joining Sue at the Chicago Field Museum and Stan at the Natural History Museum in Abu Dhabi.
Gus stands out with its 61% completeness and an exceptionally preserved skull. Dana Licking, the wife of Gary Licking, expressed her enthusiasm: “It will be exciting to see how many others will get to enjoy this spectacular discovery.”