The Problem With Selling Dinosaur Bones

Summary

This Bloomberg documentary explores the emerging market for dinosaur fossils as a high-end collectible asset class, detailing the failed Christie's auction of a T. Rex named Shen amid disputes over authenticity and the role of cast replicas. It highlights the lack of regulation, the financial stakes, and the tension between commercial collectors and scientists.

• Dinosaur fossils have evolved into a multimillion-dollar collectible asset class, with the highest sale at $44.6 million for a Stegosaurus.
• The canceled Christie's auction of T. Rex Shen raised questions about the specimen's originality and the high percentage of cast bones.
• Commercial paleontologist Peter Larson recognized Shen's skull as a cast copy from his earlier T. Rex Stan.
• Museums and private sales often contain 30-60% real fossil bone, with the rest being casts or sculpted replicas, affecting valuation.
• The fossil market lacks regulatory oversight, standardized definitions, and accredited preparators for assembling specimens.
• Christie's pulled the lot when questions could not be resolved in time, illustrating the 'wild west' nature of the market.
• Ken Griffin's $44.6 million Stegosaurus purchase exemplifies the high-net-worth collector interest driving the market.