The fossilized remains of a young Allosaurus measuring 9.3 feet long was the first dinosaur skeleton to be sold publicly in Britain. The juvenile Allosaurus was one of the late Jurassic period's biggest predatory dinosaurs. A fully grown Allosaurus can rise up to 28 feet but not as big as its celebrated cousin the Tyrannosaurus Rex.
Summers Place Auctions had high hopes for the fossilized dinosaur during its Evolution sale. Auctioneers expected something between £300,000 - £500,000 ($45,3750 - $75,6250) but the bidding price failed to reach the seller's reserve price. A spokeswoman from the auction said interested buyers who missed the bidding can still purchase the fossil at a 'reasonable' tag price post-auction.
"Remains of small dinosaurs and juveniles of larger species are extremely rarely found. This is because the most likely cause of death was predation, meaning there would be little left to be preserved," wrote Summers Place Auctions.
The fossilized Allosaurus is approximately 150 to 155 million-year-old. Sons of the famous palaeontologist Raimund Albersdoerfer discovered the Jurassic gem in Wyoming, U.S. in 2009. Experts thought that the juvenile Allosaurus fossils exuded a 'cute factor' that would entice art buyers who may want a bizarre statement piece.
Modern Art Is More Expensive Than History
In 2013, Summers Place Auctions sold another dinosaur fossil. The long neck Diplodocus sold for £400,000 ($604,880) to the Natural History Museum of Denmark. The Diplodocus fossil was also discovered by Albersdoerfer and his two teenage sons.
Museums are the major buyers of dinosaur bones sold at auction houses. While half a million sounds quite modest for the chance to own a real dinosaur fossil from private sales and glamorous auctions, it also shows how undervalued the ancient finds are.
For many art collectors, half a million dollars is probably pocket money. British artist Tracey Emin's "My Bed" sold for £2.5 million ($3,781,500). An artwork from Scottish painter Peter Doig can climb up to £16.6 million ($25,109,160). These are just some of the recently sold modern art with million-dollar price tags. The magnificent Diplodocus and Allosaurus couldn't even stand the comparison.
The main reason why dinosaur fossils, despite all their history, glory and bravado, do not meet a million- dollar price stag is because collectors pay for the name. It's the signature on the artworks that sends price stag skyrocketing and not the artwork itself. In the case of our ancient predators, Mother Nature's signature couldn't compare to a Picasso or Gerhard Richter, but that's good news for museums who can still purchase dinosaur bones at an affordable price.
