Stegosaurus skeleton made public as dinosaur fossils attract investors

The latest hot public offering is not a fintech or AI company, but a partially buried stegosaurus skeleton dubbed “BCQ 24” and measuring about 23 feet long. Rally, a fractional investment platformis preparing to offer investors 200,000 shares at $68.75 apiece to own a piece of the rare dinosaur fossil. This is not the first time unusual assets have been made public…work of artcollectibles and even the childhood home of Mickey coat have received the fractional ownership treatment in recent years. The upcoming supply of stegosaurs, however, demonstrates unprecedented growth in the lucrative dinosaur bone market, according to Rally’s co-founder. Rob Petrozzo.

“As we’ve seen the privatization of some of these dinosaurs become more and more publicized, people are realizing that they can own them as collectibles,” said Petrozzo, who is also chief product officer of the company, to Observer. “Even though something like this is 150 or 160 million years old, it’s as relevant today as ever.”

In July, the billionaire hedge fund manager Ken Griffin set the record for most expensive dinosaur sale when he purchased a stegosaurus named “Apex” for a whopping $44.6 million at Sotheby’s. The acquisition of the Citadel leader eclipsed a previous record held by “Stan” the T-Rex, which sold at auction for $31.8 million by Christie’s in 2020. In recent years, eight distinct dinosaur fossils have been sold publicly for more than $6 million, according to Rally, which noted that buyers from the Middle East and Asia have shown particular interest in the emerging sector.

Rally became aware of “BCQ 24” earlier this year when Thomas Lindgren, a fossil expert who has previously worked with Rally and institutions like the American Museum of Natural History in New York, called the platform after finding Evidence of Stegosaurus at Bone Cabin Quarry in Wyoming. Even though less than half of the skeletal bones had been discovered at that time, Rally decided to take a risk.

“We had the opportunity to get a first look, put down a deposit, negotiate a price for the whole skeleton; regardless of the outcome in terms of the total amount of bones found,” Petrozzo said. Since then, approximately 69% of all dinosaur bones have been recovered. Petrozzo predicted “a real chance” that 80 percent or more could eventually be discovered as the rest of his skeleton is excavated.

What’s in it for investors?

After offering shares of the dinosaur on Dec. 20 via its website and app, Rally hopes to find a buyer for the fossil in the next 18 to 24 months via an auction or private sale. A possible sale of his stegosaurus could rival the eight-figure sum paid by Griffin earlier this year. Although the Rally fossil is smaller than Apex, its bone quality matches or exceeds that of the Griffin specimen, Petrozzo said. “There’s a chance you’ll see a real bidding war.”

In the meantime, investors will receive updates on the excavation, scheduled for completion by next June, which will include photos and videos as well as a bone map showcasing the newly discovered pieces. Shareholders will also vote on a new name to replace “BCQ 24,” said Petrozzo, who said its current nickname comes from its dig site and the year its main pieces were discovered.

The price surge associated with rare dinosaurs has has raised the alarm among some paleontologists in museums and universities, who fear that increased demand for private ownership has prevented academia from acquiring important fossil acquisitions. In some cases, buyers have displayed their Jurassic treasures to the public: Griffin’s Stegosaurus, for example, is currently on loan to the American Museum of Natural History. “Even when billionaires buy a lot of these pieces, they are the ones who will hopefully put them back into museums,” Petrozzo said.

Rally’s Stegosaurus will be the first time the company, which has previously sold shares in fossils like a triceratops skull, will offer investments in a complete dinosaur skeleton. Having experimented with assets ranging from baseball cards to rare cars, the company is also ultimately looking to expand into “intangible assets,” according to Petrozzo, who is eyeing fractional ownership of sports teams. “That’s something we’re going to focus on for 2025,” he said.