'Gus,' the 67-million-year-old T. rex, sells for a staggering $50.1 million to a mystery buyer in just 10 minutes

A 67-million-year-old Tyrannosaurus rex fossil nicknamed "Gus" has become the most expensive dinosaur ever sold at auction, fetching a record $50.1 million at Sotheby's in New York on Tuesday, July 14, after a 10-minute bidding battle involving online, phone, and in-person buyers.

The identity of the winning bidder has not been disclosed. Announcing the sale with a video on Instagram, Sotheby's wrote: "It’s a world record for Gus! The T. Rex just became the most expensive dinosaur ever sold at auction."

The auction house said the room "erupted into applause" as seven bidders competed for the fossil. "This morning at #SothebysNewYork, the room erupted into applause as seven online, phone and in-person bidders battled over 10 minutes for a final hammer price of over $50.1 million."

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According to Sotheby's, the sale surpassed the previous auction record set in 2024, when the nearly complete "Apex" Stegosaurus sold for nearly $45 million. Before that, the Tyrannosaurus rex skeleton "Stan" held the record after selling for nearly $32 million in 2020.

Meet 'Gus,' one of the largest and most complete T. rex fossils ever discovered

Excavated in Harding County, South Dakota, Gus dates back approximately 67 million years and is considered one of the world's largest and most complete Tyrannosaurus rex specimens.

The fossil measures 38 feet long and is 63% complete, with the preserved bones accounting for an estimated 75% to 80% of the dinosaur's total mass.

As per Sotheby's the specimen was discovered in 2021 after a team of paleontologists decided to prospect a new area shortly after wrapping up another excavation. The first bone, a metatarsal, was found within hours.

Over the next five years, researchers excavated, documented, and restored nearly 1,000 individual fossil pieces, painstakingly reassembling the skeleton by hand before mounting it on a custom armature inside a pickleball court, one of the few indoor spaces large enough to accommodate the massive specimen.

The dinosaur was named after Gary Licking, the South Dakota rancher on whose land it was discovered. Licking died before seeing the completed mount, though his widow, Dana, has remained closely involved with the project.

Scientists urge new owner to keep 'Gus' accessible to the public

While the record-breaking sale drew excitement in the auction room, it also renewed concerns among paleontologists that scientifically important fossils could disappear into private collections.

The Society of Vertebrate Paleontology (SVP), an organization representing scientists, scholars, and students, said significant fossils such as Gus should remain in museums and research institutions where they can be studied and viewed by the public. Before the auction they wrote in a statement, ‘SVP's longstanding position is that scientifically significant vertebrate fossils should be permanently curated in accredited museums, universities, and other public research institutions where they remain available for scientific investigation, education, and public exhibition. ‘

The organization said scientifically significant fossils should be "preserved, documented, and accessible for future generations."

Social media users call for museum display

The debate quickly spilled onto social media after Sotheby's shared the record-breaking sale on Instagram, with many users arguing that a fossil of such scientific importance should remain on public display.

A commentator wrote, "Fossils like this should never be in private collections." Another echoing the same concern, wrote, "Why are they selling it? That should be in a museum." Other people also raised their concern, "Should be in a museum not a billionaires lobby!"