Auction News: Stegosaurus Sets Record and Elvis Controversy

In the world of high-end auctions, there have been two recent developments gaining public interest.

“Apex,” a stegosaurus dinosaur fossil, became the most expensive fossil ever sold at an official auction, fetching $44.6 million at Sotheby’s Natural History auction on July 17, 2024. Discovered by Jason Cooper in Colorado in May 2022, the 150-million-year-old skeleton is the largest and most complete stegosaurus found, with 254 of its 319 bones excavated over two summers.

Bidding for Apex started at $3 million and quickly surpassed the previous record of $31.8 million for a T-Rex named “Stan.” After a seven-way bidding war, billionaire Ken Griffin purchased Apex and plans to loan it to U.S. institutions.

The $44.6 million sale of the “Apex” stegosaurus, the most valuable fossil ever auctioned, captivated viewers during a 15-minute bidding war at Sotheby’s. Auctioneer Phyllis Kao, a Sotheby’s vice president, led the event with enthusiasm, drawing millions of online spectators.

The bidding began at $3 million and was streamed live, attracting over 2 million views on TikTok. Kao received numerous Instagram messages following the auction. Apex, the largest stegosaurus ever found, was expected to sell for $4-$6 million but was ultimately purchased by billionaire Griffin for over 10 times that estimate.

Moreover, in the auction world, there have been other developments, specifically with Elvis auctions as of late. Joel Weinshanker of Graceland was skeptical after he saw an auction house, GWS Auctions, selling a black grommet jacket supposedly worn by Elvis. Technically, Graceland already had the exact same jacket in its collection, which was a unique item.

GWS Auctions, owned by Brigitte Kruse, has a history of selling various Elvis memorabilia and has faced scrutiny over other items in the past, including a jet and jewelry, some with authenticity letters from Elvis’ ex-wife, Priscilla Presley. Kruse and Priscilla had formed a relationship, but it has since fallen apart, leading to lawsuits. As for the items up for auction, Kruse defended them and questioned Weinshanker’s media approach, stating that he could have gone to her directly with his concerns.