T. Rex Skull Brings in $6.1 Million at Sotheby’s Auction

T. Rex skull and dinosaur peak lost its value. The T. Rex skull, expected to sell between $15 million and $20 million, sold for only $6.1 million. Sotheby’s described it as one of the best and most complete Tyrannosaurus Rex skulls ever found. The skull is also roughly 76 million-year-old.

The unearthing of the T. Rex skull took place in Harding County, South Dakota. This was during excavations in 2020 and 2021 on private land. The area’s Hell Creek Formation is where many Cretaceous Period fossils got discovered. This also includes a famed specimen, “Sue the T. Rex”.

The 200-pound skull, dubbed Maximus (T. Rex skull), includes most of the external bones on the right and left side. It also includes an intact jaw with numerous upper and lower teeth. The specimen was sold by Sotheby’s for $8.3 million in 1997, and was on display at the Field Museum in Chicago.

Before November, it seemed collectors would pay anything for fossils that were 65 million years old. At Christie’s, a Velociraptor skeleton sold for $12.4 million just in 2022. Also, gorgosaurus sold for $6.1 million at Sotheby’s. Even dinosaur fragments were fetching record prices, with a single Stegosaurus spike fetching $20,000 per piece.

Christie’s Hong Kong pulled a T. Rex skull, signalling the start of a tremor. His estimated value was $25 million, days before it was due to go to auction. The number of duplicate bones utilised in the specimen was the cause, however, the auction company did not disclose it specifically. Also, there was the misleading nature of the pre-auction promotional material.

“The estimate was a reflection of uniqueness and quality” – the Sotheby’s

The enthusiasm for dinosaur fossils may be waning at this time, in a market that is frequently driven by confidence. A resin cast of a separate Tyrannosaurus rex (T. Rex skull) specimen served as the basis for the Maximus offering by Sotheby’s. Also, 30 of the total 39 bones were original.

“The estimate for the T. Rex skull was a reflection of how unique the skull is, as well as its exceptional quality”, wrote Sotheby’s in a statement. “But given that nothing quite like this ever came to auction before, we always intended for the market to determine the ultimate price. We are also pleased to have set a significant new benchmark for dinosaur fossils at auction”.

Aside from the previously recognized voracious market for dinosaur skeletons, the explanation comes with the fact that all other specimens of this kind and quality are in museums. Sotheby’s also stated that the chances of identical fossils being auctioned are under limitation.

Also, the primary locations outside of the US for such fossils, such as T. Rex skull, do not issue export licenses for these kinds of dinosaur remains. This includes China, Canada, and Mongolia. Despite Christie’s and Sotheby’s recent underwhelming sales, it’s unlikely that these worries will allay.