A 38-foot-long Tyrannosaurus rex skeleton nicknamed “Gus” is scheduled for auction at Sotheby’s in New York City this week, with opening bids starting at $19 million. Discovered on private land in South Dakota in 2021, the specimen could potentially sell for up to $30 million, according to auction house estimates.
The Discovery and Excavation of Gus
The skeleton was unearthed on a 6,500-acre property in Harding County, South Dakota, within the Hell Creek Formation—a region globally recognized for its abundance of dinosaur fossils.
The specimen is named after Gary “Gus” Licking, the late owner of the ranch where the bones were found. According to Sotheby’s worldwide head of Science & Natural History, Cassandra Hatton, the excavation process was extensive and spanned through 2023. Licking, who had observed fossil fragments on his property for years, passed away in February 2022 before the full scope of the discovery was realized.
Dana Licking, widow of the ranch owner, via Yankton.net
Specimen Completeness and Scientific Significance
Gus consists of 183 bone elements, representing approximately 61% of the dinosaur’s total bone count and 75% to 80% of its original bone mass by weight. Sotheby’s describes the find as one of the largest and most complete robust, adult
T. rex skeletons ever discovered. The skeleton stands 12.5 feet tall and measures 38 feet in length.
While Gus is exceptionally complete, it remains smaller than “Sue,” the famous T. rex discovered in 1990. Sue, which also originated from the Hell Creek Formation, is 40 feet long and retains 90% of its bone mass. Sue was famously auctioned in 1997 for $8.3 million, a sale that concluded after significant legal disputes regarding ownership of the land where it was found.
Market Trends and the Ethics of Private Sales
In 2024, a stegosaurus named “Apex” sold for a record-breaking $44.6 million, purchased by investor Ken Griffin, who subsequently loaned the fossil to the American Museum of Natural History.
For more on this story, see Authentic Dinosaur Skeleton to Be Sold at Auction.
Some experts argue that the rising prices for such fossils create a barrier for public institutions. Scott Persons, curator of natural history at the South Carolina State Museum, noted that while the high market demand is clear, the prices often exceed the budgets of public museums.
“A sum like that could endow a research program at a public museum of your choosing. That would pay for a career’s worth of fieldwork, the discovery of whole new species, and the public exhibition of the findings.”
Scott Persons, paleontologist, via NPR
Walter Stein, an independent paleontologist who operates the Dinosaurs of the Hell Creek Museum, suggests that while private ownership is a reality of the current market, the scientific impact is often mitigated by the fact that many museums already possess significant display specimens. Stein noted that international interest from regions with more available funding—such as the Middle East or Asia—may play a larger role in the bidding for Gus than American institutions.
Historical Context of Fossil Auctions
Stan, which was excavated by the Black Hills Geological Research Institute, is being auctioned by Christie’s.
| Dinosaur | Year Sold | Sale Price |
|---|---|---|
| Sue | 1997 | $8.3 million |
| Apex | 2024 | $44.6 million |
| Gus (Estimate) | 2026 | $20M – $30M |
With bidding for Gus beginning at $19 million, the industry will be watching to see if this specimen approaches the record set by Apex. The auction is scheduled to take place on Tuesday morning at the Sotheby’s New York office, marking the next chapter in the commercialization of Cretaceous-period fossils.
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