31.10.2024

Market insights

Fossils, monoliths and minerals: collector's new frontiers

We see an increasing interest in the art market in these natural treasures, which carry with them stories of remote geological eras and represent a tangible yet “politically correct” link to a remote and fascinating past.

Not only art, design, and luxury: the collectible market is turning to new areas to attract new clients and renew the interest of existing ones. But in this article, we’re not going to talk about digital art, nor the exclusive garments worn by celebrities—the latest being the Reebok sweatshirt worn by Michael Jordan at the 1992 Olympics, set to go on sale at Sotheby’s this November with an estimate between one and three million dollars. Instead, we’ll dive into the phenomenon captivating daring and audacious buyers: the collection of fossils, monoliths, and fragments from ancient eras.

In recent years, auctions of fossils and meteorites have reached record numbers, with high-profile collectors pushing prices for these unique pieces of natural history to unprecedented levels. For example, this year, a nearly complete Stegosaurus fossil, named "Apex" and discovered in Colorado, sold at Sotheby's for $44.6 million, far exceeding initial estimates and setting a new record for dinosaur fossils. This sale highlighted the appeal of well-preserved specimens and contributed to a record total of $45.8 million for the auction.

Meteorites have also captivated collectors, particularly lunar and Martian samples. In a Christie’s sale, a large Martian meteorite with clear fusion crust and shock melt pockets sold with estimates between $500,000 and $800,000, attracting considerable interest due to its rarity and scientific value. More accessible yet exotic offerings included meteorites with prices starting around $400, appealing to a wider range of collectors.

The phenomenon can also be seen while strolling through the booths at major art fairs, where some gallery owners have chosen to display rare fossils and minerals alongside the great masters of the past. This practice has contributed to the spread of a “politically correct” aesthetic: no longer epic scenes, religious paintings, and rare antique furniture, but organic elements that simply, through their material, narrate the epic story of the world.

These sales reflect a growing market where ancient fossils and extraterrestrial minerals are seen not only as investments but also as symbols of humanity's connection to Earth’s history and the cosmos. More than a trend, this could be viewed as a strategic move to draw in new cultures through a form of art that is less demanding and culturally more accessible. Interestingly, it was announced today that the Abu Dhabi ADQ fund (Abu Dhabi Sovereign Wealth Fund) acquired a minority stake in the auction giant Sotheby's, but we’ll delve into that in future articles.