A record-breaking sale of a Stegosaurus fossil, named 'Apex', took place at Sotheby's auction on July 10, 2024. The nearly complete skeleton sold for $44.6 million to billionaire investor Ken Griffin, founder and CEO of hedge fund Citadel. Apex is the largest Stegosaurus ever discovered, measuring 11 feet tall and nearly 27 feet long from nose to tail, with over 250 bone elements.
The fossil was found by professional paleontologist Jason Cooper on his private land in Moffat County, Colorado. The bones were excavated carefully and set on a steel frame for display. Apex lived to an old age, as evidenced by signs of rheumatoid arthritis.
Sotheby's described Apex as the most complete and best-preserved Stegosaurus specimen of its size ever found. The dinosaur remains were estimated to fetch up to $6 million, but the sale far exceeded expectations due to intense bidding competition.
The fossil was discovered in the Morrison Formation, an expanse of sedimentary rock centered in Colorado and Wyoming that also extends into parts of 11 other states. The Stegosaurus is a four-legged, armored dinosaur best known for the distinct line of kite-shaped plates on its back.
The spiky-tailed dinosaurs lived during the late Jurassic period, roughly 155 million years ago to 145 million years ago. The Stegosaurus is one of the most universally recognizable dinosaur species, whose unmistakable silhouette has been a source of fascination and wonder for generations.
Previously, the record for the most money paid for a fossil at auction was set in 2020 when a Tyrannosaurus rex skeleton named 'Stan' sold for $31.8 million. The first dinosaur sold at auction was 'Sue the T. rex', which fetched $8.4 million in 1997.
Phyllis Kao, an auctioneer and vice president for client strategy at Sotheby's, handled the sale of Apex with her usual flair and charisma, drawing in millions of curious online spectators. The bidding war lasted over 15 minutes before Ken Griffin emerged as the successful bidder.
Griffin intends to keep Apex in the United States and explore loaning it to a museum for public display.