OGP | Collectors' Recommendations
Jul 26, 2024
The remarkable Stegosaurus Apex, sold for an astonishing $44.6 million, marks a historic moment in the paleontological and dinosaur fossil auction industry. This sale not only set a new record but also showcased an unprecedented level of transparency and meticulous documentation at every stage of the specimen's handling.
On July 17, 2024, Sotheby's New York witnessed a historic event with the auction of the finest Stegosaurus ever, Apex. This extraordinary fossil sold for an unprecedented $44.6 million, becoming the most valuable fossil ever sold at auction, exceeding the pre-sale estimate by over 11 times.
Intense Bidding Process
The bidding process was highly competitive, lasting over 15 minutes with seven bidders competing via phone. Previously, the record was held by "Sue," a Tyrannosaurus rex sold in 1997 for $8.2 million. Apex's sale not only surpassed Sue's record but also highlighted the growing market and interest in paleontological specimens.
Discovery and Preparation
Apex was discovered by commercial paleontologist Jason Cooper in 2022 in Dinosaur, Colorado. Sotheby's collaborated with Cooper to ensure detailed documentation at every stage from excavation to restoration, preparation, and mounting.
Market Impact
In the current market, it is rare for paleontological and dinosaur fossils to have comprehensive documentation and preservation information. This auction marks the first time an auction house has been involved in every stage of specimen handling to ensure caution and transparency. This sets a new standard and promising outlook for future fossil auctions.