Forget traditional investments like stocks or cryptocurrency—Rally, a platform specializing in fractional ownership, has launched a groundbreaking $13.75 million IPO for a Stegosaurus fossil.
Known as “Steg,” the fossil is being unearthed on a private plot of land in northern Wyoming.
Rally co-founder Rob Petrozzo told MarketWatch the offering is being valued at $13.75 million, with 200,000 shares available, priced at $68.75 apiece.
Investors can purchase shares starting today, and “Steg” is expected to officially begin trading on Dec 20.
Unlike most assets on Rally, which are typically traded like traditional equities with the option to buy and sell at any time, “Steg” comes with a unique proposition.
According to Petrozzo, once shares are purchased, they cannot be traded on the platform.
Instead, the plan is to sell “Steg” within 18 to 24 months, likely at a profit, through an auction or private sale, with the proceeds distributed among shareholders.
“This is a premium specimen,” said Rob Petrozzo, Rally’s co-founder.
He emphasized that “Steg” is already 67% complete, and more pieces are being discovered during the ongoing excavation process.
Demand for dinosaur skeletons skyrockets
Dinosaur fossils have become increasingly popular in the collector market, often fetching multi-million-dollar sums.
Hedge fund billionaire Ken Griffin’s acquisition of a Stegosaurus skeleton, nicknamed “Apex,” for $44.6 million at a Sotheby’s auction in July is a prime example of this growing trend.
Christie’s recent auction saw three dinosaur skeletons sell for $15.7 million combined, further underscoring the rising interest in prehistoric artifacts.
“It’s a brand-new market,” Petrozzo said, highlighting the surging demand for high-quality fossils.
Can fossils be considered reliable investments?
Despite the buzz, some experts remain cautious about dinosaur skeletons as an investment category.
Stephen Fishler, CEO of ComicConnect, points to the variability in quality and completeness as a potential hurdle.
“We’re far from a marketplace where fossils can be considered reliable investments,” Fishler said.
Fossils vary significantly, with some being only half-complete while others reach 80% or more.
Missing bones are typically filled in with replicas for display, complicating valuations.
Still, Rally is confident in the quality of “Steg,” describing it as a rare and highly desirable specimen.
Other accessible options for fossil enthusiasts
Not all dinosaur enthusiasts need to invest millions.
Individual bones and teeth can be purchased for hundreds or thousands of dollars through collector shows and online marketplaces.
Quincy Hansen, a Fort Collins-based fossil collector, regularly searches for smaller fossils, spending as much as $750 on individual items.
Hansen also prospects for fossils in the field, occasionally uncovering rare finds.
“You never know what you’ll discover,” Hansen said, holding onto the hope of a major find someday.
Rally’s Stegosaurus IPO highlights the potential of fossils as an alternative investment class.
Whether it’s the start of a thriving market or a speculative experiment, “Steg” offers investors a unique chance to own a piece of ancient history.
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