A nearly complete Tyrannosaurus rex skeleton, nicknamed "Gus," has sold for $50.1 million at a Sotheby's auction in New York, setting a new record for the most expensive dinosaur fossil ever auctioned. The sale concluded Tuesday after a 10-minute bidding war involving seven anonymous participants bidding by phone.
![Front view of record-breaking Gus T. rex.]( "Front view of the T. rex skeleton "Gus" displayed outdoors before its Sotheby's auction.")
The 67-million-year-old fossil far surpassed its estimated sale price of $20 million to $30 million. Sotheby's described "Gus" as one of the largest and most complete T. rex specimens ever discovered, standing approximately 12½ feet tall and stretching 38 feet long. The skeleton comprises 183 fossil bone elements, making it about 61% complete by bone count and representing an estimated 75% to 80% of the dinosaur's original bone mass.
Cassandra Hatton, Sotheby's vice chairman and worldwide head of Science & Natural History, stated that the result recognized the years of work and dedication by the team involved in excavating and preparing the specimen. She added that the market responds to great specimens that are cared for properly.
Evidence on the fossil suggests "Gus" endured hardships during its life. Sotheby's noted that several ribs and belly bones show healed fractures, and bite marks on the skull and other bones may indicate scavenging.
The fossil was discovered on a 6,500-acre cattle ranch in Harding County, South Dakota. Ranch owner Gary "Gus" Licking had been finding smaller bone fragments for years before partnering with Thomas Heitkamp and his team from Theropoda Expeditions. Licking pointed the team to an area on his property where the fossil was eventually found. He died in 2022, about a year after the excavation began, and the dinosaur was later named in his honor.
Excavating the massive predator required three field seasons, followed by years of lab work for cleaning, documentation, and assembly. Heitkamp described the process as their longest-term project ever, emphasizing the diligence required for the discovery.
The record-breaking sale has reignited a debate within the paleontological community regarding the ownership of rare dinosaur fossils. The Society of Vertebrate Paleontology advocates for such specimens to be housed in museums for scientific research and public education. The society hopes the new owner will make "Gus" accessible to the public, ideally through a donation to an accredited natural history museum.
"Gus" surpassed the previous auction record set by a stegosaurus skeleton named "Apex," which sold for $44.6 million in 2024. Before that, a T. rex known as "Stan" sold for nearly $32 million in 2020.