A 67-million-year-old Tyrannosaurus rex fossil has become the most expensive dinosaur ever sold after fetching £37.4 million ($50.1 million) at a Sotheby’s auction in New York.

The fossil, nicknamed Gus, stands more than 12 feet (4 metres) tall and is considered one of the most complete T. rex specimens ever discovered.

More than 60% of its bones have been recovered, according to Sotheby’s.

The winning bidder at Tuesday’s auction has not yet been identified.

Gus was discovered in 2021 on a remote ranch in South Dakota, US.

The record-breaking sale has renewed debate over the growing market for scientifically important dinosaur fossils and whether such rare specimens should be sold to private collectors or preserved for museums and scientific research.