It was July 17, 2024, and a record-breaking sale was about to take place at an auction in New York City. The crowd buzzed with excitement. They were about to witness the purchase of a one-of-a-kind treasure. What was the rare find?
A 150-million-year-old dinosaur fossil.
Bidding for the fossil, a 27-foot-long Stegosaurus skeleton, started at $3 million. Over the next 15 minutes, the price climbed higher and higher as potential buyers competed for the skeleton. Ultimately, the skeleton, nicknamed Apex, sold for a staggering $44.6 million. That’s the highest price ever paid for a fossil at auction.
Surely the fossil had been bought by a museum or scientific institution that will put it on display for the public, right?
Wrong.
The ancient skeleton was bought by a billionaire from Florida.
In the U.S., such purchases are not uncommon. Here, if you find a fossil on your property, it belongs to you and—and you can sell it. Landowners can also allow fossil hunters—people who search for and dig up fossils—to look for fossils on their property. If any fossils are found and sold, the landowners and the fossil hunters share the profit.
As for the people who buy fossils, they can do whatever they want with their purchases. Wealthy collectors often display them in their homes.
Is that fair?