Sotheby’s recently auctioned off a stegosaurus fossil named Apex for a jaw-dropping price of $44.6 million, shattering previous records in the fossil trade industry. The stegosaurus was initially expected to sell for a modest $4 to $6 million, but the final selling price exceeded all expectations.
This complete stegosaurus fossil, with its distinctive back plates and rib cage, roamed the Earth around 150 million years ago in what is now Colorado. Dubbed Apex for its exceptional quality, the fossil attracted seven bidders from around the world, resulting in a 15-minute bidding war that drove the price up significantly.
The identity of the buyer, an American individual, remains undisclosed, although there are plans to potentially loan the specimen to a U.S. institution for public viewing. The sale of Apex surpasses the previous record set by the $31.8 million sale of a T. rex skeleton named Stan, which sparked a surge in demand for dinosaur fossils and raised concerns among paleontologists.
The soaring prices in the commercial fossil market have raised alarms within the scientific community, as researchers and academic institutions fear being priced out of the market. The sale of Apex, which stands at 11 feet tall and 27 feet long, highlights the growing trend of escalating prices in the fossil trade, potentially limiting access for museums and universities seeking to study these valuable specimens.
Four years ago, the sale of Stan set off a frenzy in the American West for dinosaur fossils, with museums and collectors vying for these rare artifacts. The record-breaking sale of Apex underscores the lucrative nature of the fossil trade and the challenges it poses for researchers and institutions seeking to preserve and study these ancient relics.
As the market for prehistoric specimens continues to boom, concerns persist among paleontologists about the accessibility and preservation of these invaluable fossils. The sale of Apex serves as a stark reminder of the escalating prices in the fossil trade industry and the implications it may have on scientific research and education in the future.
