A rare Martian meteorite weighing 54 pounds (24.5 kg) has sold for a staggering $5.3 million at Sotheby’s, setting a new world record for the highest price ever paid for a meteorite at auction.

The extraterrestrial rock, officially named NWA 16788, is the largest known piece of Mars ever discovered on Earth. The meteorite’s sale attracted intense interest from collectors, triggering a 15-minute bidding war between online and phone participants.

“This is an amazing Martian meteorite that broke off of the Martian surface,” said Cassandra Hatton, Sotheby’s vice-chairman and global head of science and natural history, ahead of the auction.

NWA 16788 was originally discovered in Northwest Africa, a hotbed for meteorite finds. Scientists believe it was ejected from the surface of Mars by an asteroid impact millions of years ago before eventually falling to Earth.

Meteorite collectors, planetary scientists, and private investors were all drawn to the exceptional rarity and scientific value of the specimen, which features a fusion crust and a rich mineral composition unique to Martian rocks.

The sale underscores a growing global fascination with space-related artifacts, especially those with direct connections to other planets. Sotheby’s noted that interest in natural history collectibles has surged in recent years, driven by both scientific curiosity and prestige.

The auction also reflects a broader trend in alternative investments, where rare collectibles like meteorites, fossils, and gems are increasingly sought after for their uniqueness and long-term value.