A Tyrannosaurus rex fossil discovered on a ranch in western South Dakota has sold for more than $50 million in an auction held Tuesday morning in New York.
According to the Sotheby’s website, the auction is closed and the dinosaur fossil nicknamed “Gus” was sold for $50.13 million after starting at $19 million, one of the highest sales ever for such a fossil. The sale price is well above the $30 million price estimated by Sotheby’s prior to the sale.
No information was provided about the buyer.
The 38-foot long skeleton, stands more than 12 feet tall and has one of the most complete T. rex skeletons ever found. The dinosaur is from the late Cretaceous Period and was believed to have lived on Earth 67 million years ago.
The Harding County ranch where the skeleton was found lies in the famed Hell Creek Formation, a geological region of northwestern South Dakota and parts of Montana, North Dakota and Wyoming where dinosaur finds are fairly common.
Several other major dinosaur finds have been made there, including Sue, the famous T. rex discovered in 1990. After legal wrangling over ownership, Sue was auctioned in 1997 at a sale price of $8.3 million to the Field Museum of Natural History in Chicago, where it remains today.
The first piece of Gus, a metatarsal from the dinosaur's foot, was found in 2021 sticking out of the ground on a Harding County ranch owned by Gary and Dana Licking. The find was made by paleontologists with Theropoda Expeditions, a Texas company specializing in commercial excavation, preparation and mounting of dinosaur fossils.
The fossil consists of 183 bone elements, making up 61% of the possible bones in the dinosaur's body and representing 75% to 80% of the original bone mass by weight, Sotheby's said.
The dinosaur Sue is 40 feet long and 13 feet tall and is considered the largest and most complete T. rex skeleton ever discovered at 90% of possible bone mass.
'This is our longest-term project ever,' Cassandra Hatton, worldwide head of Sotheby’s Science & Natural History division, said in the video. 'From the day the first bone was discovered, we’ve been going back and forth to South Dakota to oversee this whole process.'
Gus is named after rancher Gary Licking, whose nickname was Gus. Licking died at age 67 in February 2022, before the full extent of the T. rex skeleton was known.
Gary and Dana Licking married in 1983 and lived on their family ranch 11 miles west of Buffalo, according to Gary's obituary.
Dana Licking said in Sotheby's video that she was impressed at the level of skill and professionalism displayed by the paleontologists who discovered the skeleton.
'I’m really grateful that they found it because it could have been lost and nobody ever would learn anything about it,' she said.
Walter Stein, owner of PaleoAdventures in Belle Fourche, in western South Dakota, is an independent paleontologist who is also working to uncover fossils in the Hell Creek Formation.
Western South Dakota is likely to remain a hotbed for discovery of dinosaur fossils, said Stein, who last year opened the Dinosaurs of the Hell Creek Museum in Belle Fourche, a 6,500 squarefoot museum with a working paleontology lab, interactive exhibits and dinosaur displays.
“Finding a Tyrannosaurus rex skeleton with 183 bones doesn’t happen every day,” he said. “On the one hand, I would love for this and every fossil I collect to go to a museum,” he said. “However, there’s so many dinosaur specimens and skeletons on display, it’s not going to affect the science that much if it ends up in private hands.”
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