T-REX FOSSIL 'GUS' SELLS FOR RECORD $50.1M AT NEW YORK AUCTION

A Tyrannosaurus rex fossil nicknamed Gus sold at Sotheby's in New York on Tuesday for $50.1 million with fees to a telephone bidder, setting a record for the most valuable dinosaur fossil sold at auction. The skeleton, judged to be one of the largest and most complete ever unearthed, exceeded its pre-sale estimate of $20 million to $30 million. The specimen was excavated on a ranch in Harding County, South Dakota, by the commercial fossil company Theropoda Expeditions between 2021 and 2023. The identity of the buyer remains unknown.

The skeleton takes its name from Gary "Gus" Licking, the owner of the land where it was discovered. Experts believe Gus to be approximately 67 million years old, stands 3.8 metres tall, and is mounted in a predatory pose with prominent teeth. The fossil's head is so large and heavy that it was displayed separately in Sotheby's lobby rather than mounted on the skeleton; a reproduction head was fitted to the mounted specimen instead. Sotheby's described the specimen as "exhibition-ready" and noted it would require special handling or shipping services due to its size.

The sale prompted scientific debate in the days before the auction, with some observers raising concerns that selling the fossil into private hands could limit palaeontological research opportunities. Cassandra Hatton, Sotheby's vice-chairman and global head of science and natural history, said the result reflected the quality of the specimen's excavation, documentation, preparation and care. The fossil was displayed at Sotheby's new headquarters in New York ahead of the sale.