If you thought that dinosaurs only existed in movies and museums, you would be wrong – dinosaur fossils are quickly becoming a prized possession among the elites of society, such as Hollywood stars, technology moguls, and financial nobility.As per financial news outlet Bloomberg, a winged Pteranodon skeleton will be auctioned on Wednesday at Sothebys and is expected to fetch a price of US$ 6 million. Although the Pteranodon is technically not a dinosaur – it is a pterosaur – more than half a dozen dino fossils have been sold for at least that amount since 2020.The most expensive dinosaur fossil sale, however, remains an almost-complete fossil of a Tyrannosaurus rex – nicknamed Stan – which was sold at Christies in New York in 2020. The sale fetched almost US$32 million, and will likely feature in a new natural history museum in Abu Dhabi.In 2020, the most expensive dinosaur fossil ever sold at auction went for a whopping £24 million: Stan the T. rex.Estimated to be about 66 million years old, Stan is an extraordinary, nearly-complete specimen. This incredible fossil is now in the hands of a private collector. pic.twitter.com/vTog84TYSy— Natural History Museum (@NHM_London) July 29, 2021The increased commoditisation of fossils has resulted in marketers pitching dino fossils as the perfect office or living room accessory, while real-estate dealers are pitching advertising ranches for their fossil-earnings potential.Fossil excavations, as a result, are on the rise too. However, as of 2009, US law prohibits collecting scientifically valuable fossils, particularly fossils of vertebrate species like T. rex, from public lands without permits. But fossils found on private lands are still considered the landowners personal property, and landowners can grant digging access to whomever they wish.Not everyone, however, has the dough to fork millions for the fancy fossils. Instead, those on a budget can opt for an equity stake in a triceratops skull on Rally, a collectibles investment platform – Bloomberg says that a 12-feet-tall polyurethane cast of Stan is being sold for just US$150,000 (about ₹1.22 crore).Dinosaur fossil auctions worry scientistsNaturally, not everyone is thrilled that the planets historical treasure is being bought and sold as commodities – scientists are particularly worried about losing access to the best dinosaur specimens.Cassandra Hatton, head of science and popular culture at Sothebys, explained that the cost of excavating and preparing the fossils is what drives up the cost, which is why more and more museums are looking for private financiers.“The fossils that are being discovered are ones that are slowly being exposed due to erosion and weather events. You can either have a commercial paleontologist carefully excavating these or you can lose them forever, take your pick,” she said.
