A Tyrannosaurus rex specimen sold at Sotheby’s for $50.1 million, becoming the most expensive dinosaur ever sold at auction.

Read more Trump warns U.S. strikes on Iran could get ‘really bad’ next week with power plants targeted

Riding a boom in dinosaur prices at auction, the T. rex, named “Gus,” blew past its price estimate of $20 million to $30 million after a 10-minute bidding war between seven bidders. It broke the record sale by Sotheby’s of a Stegosaurus skeleton nicknamed “Apex” in 2024 for $44.6 million, bought by billionaire hedge funder Ken Griffin.

Gus was discovered in South Dakota and is about 67 million years old. Touted as one of the most complete dinosaur specimens ever found, Gus has 183 fossil bone elements and is about 61% complete by bone count. It is about 38 feet long, about 12.5 feet tall and has a skull length of 54 inches, making it one of the largest T. rex fossils ever found, according to Sotheby’s.

Gus also displayed a number of injuries, including fractured and healed bones in several ribs and gastralia, as well as bite marks to several skull bones.

“Gus is not only an exceptional find, but a specimen that’s been excavated, documented, prepared and cared for with real excellence,” said Cassandra Hatton, Sotheby’s vice chairman and worldwide head of science and natural history.

Read more Lucid dismisses report that it is weighing filing for bankruptcy or going private after shares plunge

Dinosaur fossils have become one of the fastest growing segments of the collectibles market, as the wealthy search for rare stores of long-term value and auction houses look to categories beyond art to diversify their sales. A T. rex named “Stan” sold at Christie’s in 2020 for $31.8 million.

While the success of Gus is likely to encourage the sale of more dinosaur bones, paleontologists and other experts warn that there are few safeguards for authenticity or verification in the industry.