Rare Ceratosaurus fossil sells for US$30.5 million

The fossil is the only juvenile Ceratosaurus specimen known to exist. (Matthew Sherman via CNN Newsource)

A Ceratosaurus fossil that is one of only four known to exist has sold for US$30.5 million at auction.

The rare dinosaur fossil is “one of the finest and most complete examples of its kind ever found,” auction house Sotheby’s said in a statement published Wednesday.

The specimen, which is the only juvenile Ceratosaurus fossil of the four, sold for multiples of its $4 million-$6 million estimate at Sotheby’s New York following a six-minute battle between six different bidders.

Ceratosaurus nasicornis was a meat-eating predator with a nasal horn, long teeth and bony armor that ran down its back and tail.

Standing six feet, three inches (1.9 metres) tall and approximately 10 feet, eight inches (3.25 metres) long, this juvenile fossil is made up of 139 bone elements, of which 57 make up “a superb virtually complete skull,” according to Sotheby’s.

It was found in 1996 at Bone Cabin Quarry in Wyoming and dates from the late Jurassic period, around 150 million years ago.

The fossil was displayed at the Museum of Ancient Life in Thanksgiving Point, Utah, from 2000 to 2024 and has not been studied or described formally in a scientific journal, Sotheby’s said.

“The buyer of the Ceratosaurus intends to loan it to an institution, as is fitting for a specimen of this rarity and importance,” the auction house said.

In the same sale, a meteorite that is the largest known piece of Mars on Earth sold for $5.3 million.

“These stellar results underscore a deep and enduring fascination and respect for the natural world — from the farthest reaches of space to the ancient depths of the Earth. What draws collectors is more than just a passion for science; it’s a deep-seated curiosity about the forces that have shaped our planet and beyond,” Cassandra Hatton, global head of science and natural history at Sotheby’s, said in the statement.

Mark Westgarth, a professor of history of the art market at the University of Leeds, England, told CNN that the sale “is part of a recent resurgence of interest in fossils and natural history.”

For example, Sotheby’s also sold the most valuable fossil ever sold at auction, Apex the Stegosaur, which fetched $44.6 million in July 2024.

“At the top end of the market … seems to be about an increasing desire for ‘distinction,’” said Westgarth. “These dinosaur specimens also have a particular aesthetic — they are sculptural and awe inspiring.”

For Steve Brusatte, a professor of paleontology and evolution at Scotland’s University of Edinburgh, these kinds of price tags are shocking.

“Who has that kind of money to spend on a dinosaur? Certainly not any museums or educational institutions,” he told CNN.

“While I’m pleased that the buyer might loan the skeleton to a museum to be put on display, at this point it is just a vague suggestion. The buyer is still anonymous,” Brusatte added.

“My fear is that this skeleton will disappear into the ether, into the mansion of an oligarch or a bank vault to accumulate value as just another investment in the portfolio of a hedge fund, and not see the light of day until it’s auctioned again, or maybe never at all,” he said.

“Bottom line, a world where dinosaur skeletons can fetch tens of millions of dollars within a few minutes at auctions is not a world where dinosaurs will long be accessible to educate and inspire everyone,” Brusatte added.

However, Westgarth argues that there is a “symbiotic” relationship between the market and wider research interests.

He cites the example of Mary Anning, who discovered fossils on England’s south coast in the early 19th century and went on to open a successful fossil shop.

“Here the market for fossils acted as a catalyst for research in public institutions in the 19th century, inculcating increasing attention and public interest and acting as a catalyst for increased research activity on dinosaur fossils,” said Westgarth, who argues that the fact that the buyer of the Ceratosaurus fossil “has suggested that they will loan it to an institution only adds to its potential for future research activity.”

By Jack Guy, CNN