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T.Rex fossil sells for nearly $32M at Christie's auction

Yahoo Finance's Zack Guzman gives an update on the T. Rex fossil that sold at Christie's October sale.

Video Transcript

ZACK GUZMAN: I want to bring you an update to a story that we covered earlier here in the week. That would be the auction being held by Christie's for one of the, I guess, biggest profile T. Rex skeletons out there in the last 20 years.

And we said, according to Christie's, that interview we had on the show, that the price that it was expected to fetch could have been anywhere from $6 to $8 million dollars. That's a lot of money, and it wound up selling for a record price yesterday, last night. The price that that T. Rex-- which goes by the name Stan-- fetched was nearly $32 million after fees in a heated 20 minute bidding war that ended with buyers there at Christie's, they said, going back between London and New York.

But it brought in, again, close to $32 million, which brings up questions about what could be out there in terms of assets. Maybe you didn't think dinosaur fossils would be all that much, but it was quite a bit more than what we saw last time a T. Rex sold for about $8.36 million dollars back in 1997. That would roughly equate to $13.5 million dollars today. So quite the jump. Of course, not the same skeletons out there for T. Rex's, but quite the appreciation when it comes to those.