In a landmark event nearly 30 years after the first dinosaur was auctioned by Sotheby's, a 67 million-year-old Tyrannosaurus rex fossil named Gus is set to go on sale in New York with a pre-sale estimate of $30 million. This specimen is considered one of the most complete T. rex fossils ever found.

Gus was discovered in the Badlands of South Dakota on land once owned by the late Gary "Gus" Licking, a cattle rancher. Thomas Heitkamp and his team spent three years carefully excavating the fossil. Despite the excitement of the find, experts like independent palaeontologist Dr. Fiann Smithwick note that locating such fossils is only the beginning of a challenging process.

"The people that look for these fossils will spend months out in the field with tents and their food in their backpacks and they're camping out in the middle of nowhere with the rattlesnakes and the bugs and the mountain lions," Smithwick explained. Additionally, fossils are fragile once removed from the ground, as "suddenly when they're out of the ground, they're out of equilibrium, and that normally means they start to decay, fall apart."

The auction marks a shift from the 1997 Sotheby's natural history auction, where the first dinosaur, a T. rex named Sue, was sold for $8 million to Chicago's Field Museum. This time, alongside scientists, wealthy collectors are also vying for the prized specimen.

However, the high price tag raises concerns within the scientific community. "We're already priced out of having access to many, many specimens," Smithwick said, highlighting the tension between commercial sales and scientific research.

The annual auction is scheduled for Tuesday, July 11, 2026, and Gus could potentially become the most expensive dinosaur fossil ever sold.

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