Eye-watering sum rare ceratosaur fossil sold for at auction

A one-of-a-kind dinosaur fossil has fetched an eye-watering sum at a recent auction.

A rare Ceratosaurus fossil, one of only four known to exist, has sold at $46.5 million at a Sotheby’s auction.

Described in a statement by the auction house as “one of the finest and most complete examples of its kind ever found,” it vastly surpassed the estimated value, which was listed last month at $6 million to $9 million.

The fossil is the only one of its kind. Picture: Sotheby

The dinosaur fossil was discovered in 1996 on privately owned land in Albany County, Wyoming, in Bone Cabin Quarry, an area known to be a rich source of fossils due to its location in the Morrison Formation, a rock unit from the Late Jurassic Period.

The carnivorous predator is a theropod, a term classed for a diverse group of dinosaurs characterised by thin-walled bones and the ability to stand and run on their two hind limbs. The Ceratosaurus weighed up to two tons, and was easily distinguished by its nasal crest, elongate teeth, and a row of sharp bones running down the middle of its back and tail. It also featured a fourth clawed finger, which differed from its three-clawed theropod peers.

It sold for $46.5 million at auction. Picture: Sotheby

The head, up close. Picture: Sotheby

While the $46.5 million price tag may seem steep, it’s far from the first of its kind.

Last year, Sotheby’s made history with the stegosaurus fossil “Apex”, which fetched $68 million, nine times more than the presale estimate. In 2020, a Tyrannosaurus rex fossil, popularly known as “Stan”, was sold by auction house Christie’s for $48 million.

Mark Westgarth, an Associate Professor in Art History & Museum Studies at the University of Leeds, told CNN that the successful sale falls in line with the recent revival of interest in fossils and natural history.

“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.”

There has been a resurgence of interest in fossils. Picture: Sotheby

There were six hopeful bidders competing for the Ceratosaurus, both online and over the phone. Cassandra Hatton, Vice Chairman and Global Head of Science and Natural History at Sotheby’s said that there was an upturn in the number of people who registered to participate in the auction.

“I’ve had so many people who’d started off in this market who completely stopped because they’d been burned,” Ms. Hatton told the New York Times.

“A lot of those people who were excited years ago and got turned off are coming back.”

The specimen, which is the only juvenile of its kind, has not been studied or described formally in publication, Sotheby’s revealed.

While the identity of the winning bidder has not been revealed, Ms Hatton has shared that the buyer intends to loan the specimen to a museum.

Originally published as Eye-watering sum rare ceratosaur fossil sold for at auction