A massive Tyrannosaurus rex skeleton known as “Gus” is heading to Sotheby’s in New York for auction, where it could become the most expensive fossil in the world. Discovered in 2021 on the former ranch of Gary “Gus” Licking in South Dakota’s Hell Creek Formation, the specimen is estimated by Sotheby’s to fetch up to $30 million, though recent sales of other dinosaurs suggest a higher ceiling.
The Market Value of “Gus” vs. Paleontological Records
Gus is one of the largest T. rex specimens ever found. According to Sotheby’s, the dinosaur measures 11.6 meters long and 3.8 meters high, featuring a 137-centimeter skull. The skeleton consists of 183 fossilized elements, making it roughly 61% complete by bone count and between 75% and 80% complete by mass.
While Gus is a massive find, it sits behind other legendary specimens in terms of integrity. For comparison, the T. rex known as “Sue”, the first dinosaur fossil sold at auction in 1997, set a benchmark with 90% integrity, and “Stan”—also found in the same South Dakota county—retains nearly 70% of its bones. Stan sold for a record $31.8 million in 2020.
Did you know? Gus is unique because he contains “all rights.” Most T. rex skeletons use casts from “Stan” to fill missing gaps. Because the team that excavated Gus used their own scans and molds, the buyer acquires the rights to create independent replicas.
The Conflict Between Private Ownership and Science
The sale of Gus highlights a growing rift between commercial paleontology and academic research. Because the fossil was found on private land, the sale is legal, but the Society of Vertebrate Paleontology (SVP) argues that such transactions remove critical data from the public domain.
Stuart Sumida, a professor of Biology at California State University, San Bernardino and president of the SVP, states that fossils in private hands often disappear from public view and avoid proper scientific study. He notes that prestigious scientific journals generally refuse to publish research based on specimens not held in public trust.
Commercial paleontologist Thomas Heitkamp, who founded Theropoda Expeditions and led the three-season excavation of Gus, argues that private investment is often the only way these fossils are saved. Heitkamp and Sotheby’s VP and Global Head of Science and Natural History Cassandra Hatton both suggest that without the prospect of high-value sales, many fossils would remain buried and eventually erode away.
Comparing the “Gus” Model to Recent Fossil Sales
The financial trajectory of dinosaur fossils has shifted sharply upward. While Sotheby’s provides a $30 million estimate for Gus, the market has recently seen an unprecedented spike:
- Apex (Stegosaurus): Sold in 2024 to billionaire Ken Griffin for $44.6 million, shattering its original $6 million estimate.
- Stan (T. rex): Sold in 2020 for $31.8 million.
The “Custody” Debate: Why Museums Can’t Compete
Hone claims that if landowners wanted to work with museums, a professional excavation could be completed for a fraction of the auction price—potentially between $1 million and $5 million—rather than the tens of millions seen at Sotheby's.
Even when private owners loan fossils to museums, the SVP remains critical. The society recently opposed the loan of the Stegosaurus “Apex” to the American Museum of Natural History, arguing that temporary loans and 3D scans cannot replace the permanent, physical access required for reproducible science.
Frequently Asked Questions
Why is the T. rex “Gus” so valuable?
Beyond its size and high mass completeness, Gus includes rare elements like a complete pelvis and both feet. It also carries full commercial rights for replicas, meaning it doesn’t rely on “Stan” casts.
Can scientists study fossils owned by private individuals?
While some may do so informally, the Society of Vertebrate Paleontology (SVP) discourages it. Most top-tier journals will not publish research on specimens that are not in a public, accessible collection.
Where was Gus discovered?
Gus was found in the Hell Creek Formation in Harding County, South Dakota, on the ranch of the late Gary “Gus” Licking.
What is the difference between a commercial and professional paleontologist?
Commercial paleontologists, like Thomas Heitkamp, often operate as businesses to excavate fossils for sale. Professional academic paleontologists typically work for universities or museums to advance scientific knowledge.
What do you think? Should fossils of immense scientific value be allowed to enter private collections, or should there be stricter laws ensuring they remain in museums? Share your thoughts in the comments below or subscribe to our newsletter for more deep dives into the world of prehistoric discoveries.
