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Pine of Jurassic Era Auctioned for $800,000 US

The first sell of its kind! Pouring out money to more than a billion dollars is no big a news in auctions. But, that too for a species of tree! Buyers from around the world have paid nearly $800,000 US for a species of tree, believed to have existed since the Jurassic period 200 million years ago and thought to have been extinct for two million years. 15 of the prehistoric Wollemi Pines, named for the Wollemi National Park in which it was found, were discovered growing in a valley 200 kilometers west of Sydney in 1994.

Addressed as ‘living fossil’, the 40 meters high tree was known only as a fossil record, previous to its discovery. To do business in a big way, the auction house Sotheby’s kept the location of the grove secret, and brought the pine from there to produce 292 trees and minted in a million in a historic auction. Each of these trees was sold at an average of 3,627 dollars. The most expensive lot was a replica of the entire secret grove, grown from cuttings of each of its 15 wild plants. Far surpassing its estimated price of 30,000-50,000 dollars, it was sold for 149,187 dollars and 50 cents.

Via: physorg.com, more

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