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A rare dinosaur skeleton sold at Sotheby’s New York on Tuesday for $47.3 million, including fees, shattering its pre-sale estimate of $9 million by more than five times. The fossil, known as “Jodi,” is a 67-million-year-old Nanotyrannus skeleton that hammered at $40.5 million, placing it among the most expensive dinosaur fossils ever sold at auction.
A Record-Breaking Sale
The result arrives just three months after Sotheby’s sold another dinosaur skeleton for even more. In July, a Tyrannosaurus rex named “Gus” fetched a record $50.1 million against an estimate of $20 million to $30 million. That sale surpassed the $44.6 million paid for the Stegosaurus “Apex” in 2024. Jodi came remarkably close to that record, despite being considerably smaller and lacking the global name recognition of a T. rex.
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Rancher Jodi Pierson discovered the nearly 20-foot-long skeleton in Montana’s Hell Creek Formation in 2019. Sotheby’s named the fossil after her. The specimen includes 191 fossil bone elements, among them a nearly complete skull, and is one of only three known Nanotyrannus skeletons in existence.
A Dinosaur With a Disputed Identity
For decades, scientists debated whether Nanotyrannus was truly a separate species. Many researchers believed it was simply a juvenile T. rex rather than a distinct dinosaur. However, a study published in the journal Nature last year helped settle the argument. Researchers identified Nanotyrannus as a separate genus that lived alongside its much larger relative.
Jodi also has an interesting history in the private art market. In 2023, London dealer David Aaron offered the skeleton at Frieze Masters for $20 million under the name “Chomper,” at which point it was still classified as a juvenile T. rex. It did not sell at that time. The current owner acquired it in 2021, according to Sotheby’s provenance records. Now, with a new name and a confirmed scientific identity, the fossil has sold for more than twice that earlier asking price.
Dinosaurs as Trophy Assets
Tuesday’s result further confirms that dinosaur fossils have become serious luxury assets for wealthy collectors. They now sit alongside blue-chip paintings, rare watches, and sports memorabilia at the highest end of the collectibles market. Prices have climbed sharply in recent years. Christie’s sold the T. rex skeleton “Stan” for $31.8 million in 2020. Meanwhile, a juvenile Ceratosaurus brought $30.5 million at Sotheby’s last year, far exceeding its $4 million to $6 million estimate.
The rapid rise in prices has also raised serious concerns among paleontologists. Many scientists worry that commercially valuable fossils are moving beyond the financial reach of museums and disappearing into private hands. Auction houses, in contrast, argue that private investment helps fund the costly work of excavating, preserving, and studying prehistoric specimens. The debate shows no sign of slowing as the dinosaur market continues to break records.
