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"He got it straight from the paleontologists who discovered it in Wyoming in 1993," Chait said of the collector.
He said the 6-foot-tall dinosaur featured long legs, a heavy tail, a horned beak and short hands with five fingers.
"The bones display a lovely soft, creamy coloring," the auction's catalogue says.
Chait said the skeleton is expected to sell for between $440,000 and $500,000.
"This is the largest and most complete skeleton we have ever sold," he said.