Money Talks: The Dinosaur Economy
Summary
Felix Salmon interviews Sal Aaron, a dealer who pivoted his family’s antiquities gallery to the booming dinosaur fossil market. They discuss the industry’s rapid growth, driven by high-profile auction sales and wealthy collectors like Ken Griffin. Aaron explains the rigorous provenance and preparation standards his gallery applies to ensure legal and scientific integrity. The conversation also explores whether private collecting hinders science or helps preserve specimens that might otherwise be lost.
Topics discussed
Introduction and Sal Aaron's background in antiquities
What is a fossil and the pivot to dinosaur trading
Regulation in antiquities vs. the unregulated fossil market
Overview of the dinosaur fossil industry and market growth
Why primary market fossils command high prices
Barriers to entry and risks of excavation
US legal framework for fossil ownership
Provenance standards and defining completeness
Valuing natural history vs. human creativity
Museums, science, and private collector partnerships
Tax incentives and the value of common species
Comparing dinosaur fossils to fine art value
Market potential, future prices, and conclusion
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