What The Private Sale Of Fossils Means For Paleontology
Aug 12, 2024
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Ken Griffin, billionaire and CEO of Citadel, shares insights on his recent record-breaking purchase of a stegosaurus fossil for $44.6 million. He plans to loan it to American institutions, but this trend raises concerns. Paleontologists worry that as fossils increasingly go to private collectors, access for research and education will dwindle. The conversation dives into the implications of skyrocketing fossil prices and the potential loss of vital specimens for science, emphasizing the importance of maintaining public engagement with natural history.
The recent auction of a Stegosaurus skeleton for $44.6 million highlights the escalating privatization of crucial dinosaur fossils essential for research.
Paleontologists express concern that the trend of auctioning fossils limits public access to specimens, hampering education and scientific discovery.
Deep dives
The Rising Cost of Fossils
The sale of dinosaur fossils has escalated into a lucrative market, highlighted by the recent auction of a Stegosaurus skeleton for over $44 million. This trend of high prices reflects a shift wherein complete and scientifically significant fossils are increasingly sold to private collectors rather than museums. Paleontologists are concerned that this practice limits the availability of important specimens for research and public education, as many fossils may end up hidden away in private collections. The rarity of well-preserved Stegosaurus fossils enhances the significance of this particular specimen, making its sale especially alarming for those in the field.
Impact on Scientific Research
The trend of auctioning high-value fossils to private bidders poses a significant threat to scientific research and public access. Museums and universities often lack the financial resources to compete with wealthy collectors, preventing scientists from studying crucial specimens. The loss of access to original fossils means that paleontologists cannot gather essential information, which is vital for understanding dinosaur biology and ecology. This has broader implications, as the excitement of engaging the public through museum displays diminishes, reducing opportunities for inspiration and education about the natural world.
Cultural and Ethical Considerations
The commercialization of fossils raises ethical questions within the paleontological community regarding the preservation of scientific integrity versus private ownership. While some paleontologists accept private fossil collection, concerns grow about rarer specimens becoming commodities. There is hope that private collectors might recognize their responsibility to support research and conservation efforts, fostering a connection between private ownership and public education. The potential for a cultural shift in how fossils are valued and used in society remains an open discussion, as the auction frenzy continues to drive prices higher and higher.
On July 17, Apex the stegosaurus was sold at Sothebys in New York City for a record $44.6 million. The buyer was billionaire Ken Griffin, CEO of the hedge fund Citadel, who says he plans to loan the fossil to American institutions for display.
But despite Griffin’s statement, some paleontologists aren’t too happy about the trend of fossils going up for auction.
The sale of dinosaur fossils has become more and more profitable in recent years. Eight out of the ten most expensive fossils have been sold in the last four years. This trend of rising sale prices leaves museums and research institutions unable to pay for fossils that could benefit paleontological research.
Paleontologists fear that as more and more fossils become privately owned, the availability of fossils for research and even access to dig sites might decrease or be restricted.
SciFri guest host and producer Kathleen Davis is joined by Dr. Steve Brusatte, professor of paleontology at the University of Edinburgh in Scotland to talk about the potential scientific impacts of privatizing and selling fossils.
Transcript for this segment will be available after the show airs on sciencefriday.com.