Sotheby's Sells“Jodi” Nanotyrannus Skeleton For $47.3 Million

(MENAFN- USA Art News) The 67-million-year-old Nanotyrannus skeleton known as“Jodi” sold for $47.3 million, including fees, at Sotheby's New York on Tuesday. This figure is more than five times its high estimate of $9 million. The hammer price for the fossil was $40.5 million, making it one of the most expensive dinosaur skeletons ever sold at auction.

This sale follows Sotheby's August 2024 auction of“Gus,” a Tyrannosaurus rex skeleton, which fetched a record $50.1 million. That sale, estimated between $20 million and $30 million, surpassed the $44.6 million paid for the Stegosaurus“Apex” in 2024. Despite its smaller size and lack of T. rex brand recognition, Jodi nearly matched that record.

The nearly 20-foot-long skeleton was discovered in 2019 by rancher Jodi Pierson in Montana's Hell Creek Formation, and named after her. According to Sotheby's,“Jodi” is one of only three known Nanotyrannus skeletons and contains 191 fossil bone elements, including a nearly complete skull. For decades, scientists debated whether Nanotyrannus was a distinct species or merely a juvenile T. rex, but a study published in Nature last year confirmed it as a separate genus.

“Jodi” previously appeared on the art market in 2023 as“Chomper,” when it was still identified as a juvenile T. rex. London dealer David Aaron offered it for $20 million at Frieze Masters, but it did not sell at that time, with the current consignor having acquired it in 2021, according to Sotheby's provenance listing. The recent sale achieved more than double that previous offering price.

The increasing prices for dinosaur fossils highlight their status as trophy objects for wealthy collectors, alongside art, rare watches, and sports memorabilia. Recent sales underscore this trend, with Christie's selling the T. rex“Stan” for $31.8 million in 2020, and a juvenile Ceratosaurus fetching $30.5 million at Sotheby's last year against an estimate of only $4 million to $6 million.

This market boom has sparked concern among paleontologists, who worry that important scientific fossils are becoming inaccessible to museums due to high prices, ending up in private collections. Auction houses contend that private investment helps fund the expensive processes of excavating, preserving, and studying these specimens.

We previously reported:

An ancient Roman emperor's torso sold for $34.3 million at Sotheby's, setting a new auction record for a Roman antiquity after a 14-minute bidding war.

Sotheby's London's contemporary art sale on Thursday brought in $61.1 million, led by a $12.9 million Willem de Kooning painting.

A 1946 Barbara Hepworth sculpture sold for $8.3 million at Christie's London, setting a new record for a unique work by the artist.

Source: ARTnews

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