People I (Mostly) Admire The Economics of Everyday Things: T. rex Skeletons
Jul 1, 2023
Dive into the fascinating world of dinosaur fossils as the podcast explores how a T. rex skeleton fetched nearly $32 million at auction. Discover the intricate balance between fossil hunting on public versus private land and hear the journey of an amateur paleontologist uncovering valuable finds. The discussion addresses the financial challenges fossil hunters face and raises ethical questions about commercialization versus scientific research. Learn about the crucial need to preserve significant fossils in the name of science, not just profit.
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Stan's Auction
- A T-Rex skeleton named Stan was auctioned at Christie's for nearly $32 million in 2020.
- This was over five times the estimated price, surpassing famous artworks.
Fossil Location and Regulations
- The Hell Creek Formation in Montana, Wyoming, and the Dakotas is the primary source of T-Rex fossils.
- Fossils found on US public land are protected and require permits for excavation.
Private vs. Public Land Fossils
- Fossils discovered on private land can be sold commercially.
- This contrasts with fossils on public land, which must go to a public trust.