Inside the Booming Market for Dinosaur Fossils

The Odd Lots podcast episode features hosts Tracy Alloway and Joe Weisenthal interviewing Salomon Aaron, director at David Aaron gallery in London, which deals in antiquities, Islamic art, and dinosaur fossils. Aaron explains the booming market for dinosaur fossils, its mechanisms, pricing dynamics, and ethical considerations, drawing parallels to the art market while highlighting its immaturity.

Discovery and Sourcing

Dinosaur fossils are mostly found on private land in U.S. states like Wyoming, Montana, and South Dakota, where erosion and weather aid exposure, and digging is feasible seasonally. Landowners or commercial dealers grant permission to hunters, who prospect and excavate labor-intensive sites at financial risk—many seasons yield nothing. Rising prices have increased supply, as partial finds now justify full digs.

Galleries like David Aaron partner directly with hunters and landowners, acquiring fossils early via photos from the field. They fund preparation (cleaning, stabilizing) only after rigorous checks. Non-U.S. fossils are riskier due to unclear export rules; Aaron sticks to American ones for legality. Provenance paperwork has evolved: GPS coordinates, land deeds, in-situ videos, witness statements, and site visits prevent added bones or fakes. Older fossils from decades ago often lack this, limiting resale.