What is the story about?
What's Happening?
Phillips Auction House is set to sell a juvenile Triceratops skeleton named Cera, estimated to fetch between $2.5 million and $3.5 million. This marks Phillips' first venture into dinosaur fossil sales, responding to client demand for unique collectibles. Cera, discovered in South Dakota's Hell Creek Formation, is the first juvenile Triceratops ever found, measuring 14 feet in length. The fossil is well-preserved, with two-thirds of the original skeleton intact. Phillips aims to attract collectors interested in rare and extraordinary objects, expanding its offerings beyond traditional art pieces.
Why It's Important?
The sale of Cera represents a strategic move by Phillips to diversify its auction offerings amid a shrinking art market. By tapping into the growing interest in natural history collectibles, Phillips seeks to attract new clients and boost sales. The auction highlights the increasing demand for unique and historical items, reflecting broader trends in the collectibles market. Success in this venture could position Phillips as a leader in the sale of dinosaur fossils, potentially influencing other auction houses to explore similar opportunities.
What's Next?
Phillips' sale of Cera may pave the way for future auctions featuring dinosaur fossils and other natural history items. The auction house's partnership with Christian Link, an art dealer specializing in natural history, suggests ongoing efforts to expand this category. Collectors and investors will be watching the sale closely, as it could set a precedent for the valuation of similar fossils. Phillips' success in this area may encourage other auction houses to diversify their offerings, potentially leading to increased competition in the market.
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