Dinosaurs became extinct about 60 million years ago, but they’ve never been more profitable. This July, Universal will release its latest Jurassic World movie. While kids fill their rooms with plastic dinosaurs, the actual bones are disappearing into the hands of rich collectors, museums, and entrepreneurs worldwide.
A single T-Rex skeleton can now fetch between $20-30 million (Dh73.4-110 million), with recent sales shocking the paleontological world. A stegosaurus fossil nicknamed Apex sold for $44.6 million at auction last July, making it the most expensive dinosaur fossil ever sold. It was purchased by billionaire Kenneth Griffin, who then loaned it to the American Museum of Natural History for four years. Closer to home, Abu Dhabi recently purchased a T-Rex called Stan for over $30 million as the centrepiece for its new natural history museum.
In fact, the Middle East is emerging as a new frontier in fossil collection. Countries like Saudi Arabia, Iran, and the UAE are investing heavily in natural history museums, purchasing significant specimens to establish cultural prestige.
Private collectors are also entering the market, but not just to hoard their discoveries. Many wealthy buyers want to loan their specimens to museums, generating revenue and prestige. “These aren’t assets to be hidden away,” said Tom Kapitany, a veteran fossil dealer and director of the National Dinosaur Museum in Australia. “Most collectors want to share their dinosaurs, generate scientific interest, and potentially make money through exhibition tours.”
Gold rush
When it comes to the most in-demand dinosaur bones and fossils, fearsome-looking carnivorous dinosaurs such as Tyrannosaurus Rex, Spinosaurus, and Velociraptor are the most widely desired in the private sector.
Juan Aviles Poblador, a geologist, paleontologist and CEO at jurassic-dreams.com, said that the fossils that are usually in high demand are those that exhibit a unique and unobtainable character — complete or nearly complete dinosaur skulls.
“We have a high demand for complete skulls or skeletons of species that are extremely difficult to obtain, for the simple fact that only a few of them have been discovered worldwide, often in fragments. Therefore, reconstructing a dinosaur skull that is more than 65 per cent real bone becomes a real challenge,” he said.
Peter Lovisek, a director at Fossil Realm, told KT LUXE that complete, rooted T-Rex teeth are exceedingly rare and desirable. Theropod claws, especially those with intact tips, are extremely coveted. These smaller fossils consistently perform well at auctions and in the private market.
Matt Heaton, CEO, FossilEraIt’s a gold rush in that space right now. Our top-selling item is Megalodon teeth, which we sell thousands of each year"“Pterosaurs, which once flew in prehistoric skies, remain in constant demand. Their elegant winged silhouettes and notable rarity add to their allure,” he added. Typically valued in the low six-figure range, they offer a more accessible price point for those seeking extraordinary fossils without the space or budget for a full dinosaur skeleton. “The sheer diversity of fossil species and specimen types is one of the defining features of this niche, keeping the market exciting and full of discovery.”
Matt Heaton is the CEO at FossilEra, the single largest retailer of fossils in the world. “It’s a gold rush in that space right now. Our top-selling item is Megalodon teeth, which we sell thousands of each year,” he said.
Heaton is close friends with Jason Cooper, an investor in FossilEra, as well as the owner of the Apex stegosaurus skeleton that sold for $44.6 million. “He was anticipating something in the $4-6 million range going into the auction and it went for ten times that. We thought the final price was some type of error when we first saw it published. I spoke with him minutes after the auction ended and he was in complete shock.”
While complete skeletons fetch high prices, market rarity can also significantly influence demand, explained Fossil Realm’s Lovisek. “There’s a distinction between scientific rarity and market rarity. T-Rex isn’t the rarest dinosaur in paleontological terms, but because of its overall popularity and limited availability on the open market, high-quality specimens are extremely scarce and therefore extremely valuable.”
Specimens from countries with well-established legal frameworks such as the US, UK, Germany, and France, often go for a premium because their provenance (origin and history of ownership) tends to be more straightforward and verifiable, giving confidence to buyers. Provenance has become increasingly important, especially at the high end of the market, as serious buyers look for clear documentation of excavation history, preparation, and legal export.
Aesthetic appeal is another major driver of value. Even a scientifically important specimen may struggle to sell if it lacks visual presence. “For instance, we have sold vivid blue, orange, and green mammoth tusks — beautiful colours that enhanced their desirability compared to common beiges, browns, and creams,” added Lovisek.
While supply and demand are major factors when it comes to price, the labour involved in finding and preparing a specimen is another consideration. Paleontologists need to be properly compensated for the time it takes them to unearth fossils.
Fake fossilsWhen it comes to investing in dinosaur bones and fossils, one of the biggest risks is misrepresentation. This could be overstating the completeness or quality of a specimen, or hiding important restoration details. “Outright fakes are actually rare in the high-end sphere, but with advancing technology, highly convincing replicas are possible, especially with smaller specimens,” said Lovisek.
Unlike diamonds, there’s no central third-party lab for fossil authentication. Instead, verification comes down to expert evaluation and documentation. Authenticity is typically assessed by experienced paleopreparators, conservators, or trusted dealers who know what to look for. An important factor is the legality behind specimens, as each country has different legislation regarding its paleontological heritage. “Countries like the US, and some African, and even European countries have permissive laws that allow paleontological remains to be legally traded,” added Poblador.
When there is a legal basis, the value of fossils increases exponentially. This is the case with American dinosaurs, where science and commerce work hand in hand through associations like the Association of Applied Paleontological Sciences (AAPS).
But the market isn’t without its challenges. Fake fossils and unethical practices are persistent problems. Some unscrupulous dealers have been caught creating multiple skeletons from single specimens or selling heavily reconstructed bones as “original”.
Good investment?You can pick up a small dinosaur bone fragment or tooth for a couple of hundred dollars. Larger and more intact bones can fetch tens of thousands of dollars while complete skeletons go for millions of dollars. While collectors often buy to display them, do they make good investments?
“Dinosaur deposits, like many other geological resources, are limited. Therefore, many deposits have already been exhausted, and obtaining new fossils from them is simply impossible. It could be said that these are safe values over time, like gold or other precious metals,” explained Poblador.
Rarity is primarily the factor that will influence the economic value of the specimen. If only a few specimens of a species have been found, then that species will logically enter the “most desirable” club.
The future of dinosaur bone trading looks promising, with more discoveries coming onto the market. “With only 1 per cent of remains discovered and increasing global interest, prices are likely to continue rising,” said fossil dealer Tom Kapitany. Advanced scanning technologies will also make future discoveries easier, potentially uncovering vast prehistoric treasures still hidden underground.
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