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"Spent Over 60 Billion Won on Dinosaur Bones"
Rare Fossils Captivate the Ultra-Wealthy
Rare Nanotyrannus Fossil Up for Auction This Month
Estimated Hammer Price: 6 to 9 Million Dollars
The enthusiasm for collecting dinosaur fossils among the wealthy has not subsided. As some rare dinosaur fossils are being traded for tens of billions of won, the related auction market is also booming.
Dinosaur Fossil Worth Over 60 Billion Won... This Time, a Nanotyrannus
According to the Financial Times (FT) of the UK on October 5 local time, Sotheby's in New York, United States, will auction a rare fossil of the carnivorous dinosaur Nanotyrannus at the end of this month. Sotheby's expects that the fossil, named 'Jodi,' will be sold for between 6 million and 9 million dollars (approximately 8.07 billion to 12.1 billion won).
This auction comes just three months after the fossil of the large carnivorous dinosaur Tyrannosaurus rex, 'Gus,' sold for 50.1 million dollars (about 67.3 billion won), the highest price ever for a dinosaur fossil.
The Nanotyrannus fossil up for auction this time was discovered in Montana, United States, in 2019. This is the first time a Nanotyrannus fossil has appeared on the market.
Dinosaur Fossils Attract the Attention of the Wealthy... Deals Worth Tens of Billions Continue
The fervor for collecting dinosaur fossils among the wealthy drew significant attention in 2024, when American hedge fund magnate Ken Griffin purchased a stegosaurus fossil—an herbivorous dinosaur—at the then record price of 44.6 million dollars (about 60 billion won). The fossil acquired by Griffin is currently on display at the American Museum of Natural History in New York. However, the whereabouts of the Tyrannosaurus rex fossil sold three months ago remain unknown.
Previously, in 2007, famous Hollywood actors Leonardo DiCaprio and Nicolas Cage made headlines by competing at auction for a dinosaur skull fossil.
Meanwhile, the Nanotyrannus being auctioned this time has been the subject of debate in the paleontological community for more than 80 years. There have been conflicting opinions about whether the Nanotyrannus, which looks like a smaller version of the Tyrannosaurus, is a juvenile Tyrannosaurus or a distinct dinosaur species. Last year, a research team led by Professor Lindsay Zanno of North Carolina State University in the United States announced findings supporting the idea that Nanotyrannus is a distinct species from Tyrannosaurus.
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Cassandra Hatton, Vice Chairman at Sotheby's, commented, "Items that are scientifically significant and visually striking always draw great interest," predicting fierce competition over the Nanotyrannus fossil.
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