PARIS: A leather bag made from Tyrannosaurus rex cells failed to sell on Thursday, the Paris auction house Drouot said, commenting that bids were well below expected. Auctioneers Giquello had touted the &quot;one-of-a-kind&quot; piece to sell for more than $500,000 but bids barely broke the $150,000 mark, said the Drouot house where the sale took place. Unveiled in the spring in Amsterdam, the bag was created from traces of collagen from the femur of a T‑Rex found in the US state of Montana 25 years ago. &quot;In recent years, we&#39;ve developed techniques -- biotechnologies that allow us to instruct a cell culture to produce, so to speak, genuine T‑Rex skin in the laboratory,&quot; Iacopo Briano, a palaeontology expert associated with the sale, recently told AFP. He noted the material differs from vegan leather, which is mostly made from plastic. &quot;In this case, it&#39;s derived from a cell culture, so it&#39;s 100 percent skin. And at the same time, it comes from an animal that went extinct 67 million years ago!&quot; he said. With no precedent to go on, Alexandre Giquello, whose auction house is organising the sale, explained they had to &quot;come up with a price&quot; that would reflect both the amount of investment required to create the bag and its rarity. Giquello estimated the value at between 300,000 and 500,000 euros ($346,000 to $576,000).

Wildlife

A handbag created from lab-grown material derived from Tyrannosaurus rex collagen fails to sell at auction, attracting bids far below expectations despite its rarity and estimated value of up to $576,000.

Articles tagged with "Leather Bags"

First leather bag made from T-Rex cells fails to sell at Paris auction

First leather bag made from T-Rex cells fails to sell at Paris auction