Why The Price Of Megalodon Teeth Is Increasing
A question I get a lot is: "Why are megalodon teeth getting more expensive?"
"Global awareness and access to megalodon teeth increases demand"
"Fewer megalodon teeth are being found which reduces supply"
"The cost to recover megalodon teeth is going up which raises prices"
Beginning in late 2019, early 2020 the price of megalodon teeth began to rise significantly faster than the general increase seen over the previousl years. This article explains some of the factors that have led to the cost of megalodon teeth increasing in price.
At the core of the megalodon price increase is the time trusted equation of supply and demand, but currently with megalodon teeth pricing there are some interesting variables that are shaking up the market.
How price is effected by general interest in megalodon teeth
Over the past decade the general interest in the megalodon has been steadily increasing and over the past few years that interest has increased substantially, especially internationally. This is due to many factors, but some include television specials and Hollywood movies about sharks and megalodons specifically. This increased exposure has elevated the general population’s interest in the megalodon, which has lead to an increased number of megalodon teeth being sought out and purchased on the open market. In the past the interest in megalodon and megalodon teeth has increased slowly and had several cyclical events driving interest, but has lately increased at a rate far outpacing previous growth. This increase in general interest has raised the price of megalodon teeth both directly and indirectly.
Social media exposure has led to an increase in the price of megalodon teeth
Much like the increased exposure on television and in movies the impact of social medial on the megalodon tooth market over the past few years has been significant. As the world becomes more connected, social media has increased awareness that megalodon teeth not only exist, but can be purchased by just about anyone with a small amount of disposable income. The social media influence on megalodon teeth pricing is not new, however over the past couple of years the amount of exposure, especially internationally, that megalodon teeth have received has grown substantially. This causes millions of people who did not previously know that megalodon teeth existed or were accessible by entry level collectors, to become interested and start purchasing megalodon teeth. This significant influx of new international buyers has undoubtedly had an effect on pricing for someone looking to buy a megalodon tooth.
The general yearly supply of megalodon teeth is declining
Over the past few years as the awareness and interest in megalodon teeth has hit all time highs, the number of megalodon teeth being found and sold each year continues to decline. There are a myriad of reasons that there are fewer megalodon teeth being found each year, but I will attempt to cover a few of them.
- The majority of places megalodon teeth can be found are known.
With better technology, science, and equipment the number of places that accessible megalodon teeth exist are more known and better mapped each year. Thirty years ago people were finding megalodon teeth in new places and making new discoveries regularly, over the last few years the number of new megalodon locations has diminished greatly.
Much like with gold discoveries over the last century, the number of new site discoveries ahead of us is much less than the ones behind us.
- The places where megalodon teeth remain unrecovered are more dangerous and expensive to access.
Much like discoveries of other valuable natural resources, the megalodon teeth that could easily and efficiently be accessed are far fewer than they were a few years ago, more less a decade ago. The teeth that remain now are for the most part in dangerous or expensive places to recover them. Thirty years ago a snorkeler in Venice, Florida could find several 5” megalodon teeth in a few hours, now divers spend hours or days underwater there hoping to find one that is complete.
- As megalodon teeth become more difficult to find people who discover them are less likely to part with them
Years ago hobby divers could scuba dive in shallow clear water a short swim from shore and find a couple of handfuls of megalodon teeth, now divers in that same area will sometimes not find one in an entire day of searching. Because of this, when those hobby divers find a tooth they are less likely to give it away or sell it, meaning there are fewer megalodon teeth available for purchase.
-The cost to recover megalodon teeth continues to go up significantly.
The number of hours it takes, equipment involved, and resources consumed to find a megalodon tooth continues to go up. Because megalodon teeth are more rarely found it takes more time for an individual to find a tooth. The locations megalodon teeth are found in require more risk and more expensive equipment than in the past. Consumables required such as oxygen and fuel also continue to rise, slightly increasing the recovery cost of megalodon teeth. All of these factors lead to megalodon teeth increasing in price overall.
The price of megalodon teeth is going up and likely will to continue to do so
As time goes on everything gets more expensive. A gallon of milk or gas costs more than it did twenty years ago and so it is natural that a 4” megalodon will cost more due to inflation. However, due to a significant increase in demand spurred by exposure and ease of worldwide purchasing, the cost of megalodon teeth is going up at a rate that far outpaces inflation. This cost increase is compounded by the fact that recently fewer teeth are being found and offered for sale than in the past.
Megalodon teeth continue to cost more as fewer are available each quarter
Megalodon teeth prices have been going up steadily for quite some time; however, over the past few years that rate of price increase has sped up dramatically. Wholesale and retail prices for megalodon teeth have gone up due to a significant increase in consumer demand for all price points of megalodon teeth, while the overall available supply of megalodon teeth for sale has been in a steady decline. Since megalodon teeth are a finite resource on the planet and a significant portion of the teeth that are able to be recovered have already been found and sold, the price of megalodon teeth is likely to continue to steadily, if not dramatically increase.
Will megalodon teeth continue to increase in price?
While it is impossible to predict the future, the current signs seem to point to the price of megalodon teeth to continue to go up at an accelerated rate. A few factors could stabilize or decrease the price of megalodon teeth, but those are fairly unlikely. For example if the demand or interest in megalodon teeth dropped significantly that would reduce the overall prices. A new location rich with megalodon teeth could temporarily increase the supply of megalodon teeth and therefore decrease the price, but unless it was a massive discovery not yet made in an area that was easy and cost effective to access, this would likely not impact the price significantly. All of the current trends suggest that megalodon teeth will continue to increase in price at an accelerated rate.
What does the increasing price of megalodon teeth mean for the industry?
While the price of megalodon teeth continues to go up and the recovery rate continues to go down, the industry in general will have to adapt. Wholesale buyers will need to ensure they are sourcing their megalodon teeth from divers and sellers who can offer competitive pricing and keep up with quantity demands. Retail buyers will undoubtedly see an increase in prices across all megalodon tooth categories. Buyers of all kinds will need to be very selective of where they purchase megalodon teeth from as the financial incentive to restore, fake, or repair megalodon teeth will continue to increase as prices rise. The price increase for megalodon teeth will be the most apparent and dramatic for complete and higher quality megalodon teeth as these make up a much smaller portion of the available supply. Low quality megalodon teeth will increase in price, but not likely as quickly as complete and higher quality specimens.
For those of us who make our living recovering megalodon teeth it will require more hours, equipment, risk, and resources to find megalodon teeth, making the challenge more significant and the hunt more difficult.
If you are interested in purchasing a megalodon tooth you can find them for sale at the Dark Water Megs online store which you can find here.
*The information above was compiled and presented as simply as possible; there are countless other contributing factors that influence megalodon market prices. The data compiled and shared above is by no means perfect, but was put together in an effort to give a simplified explanation to the question I get all the time which is “Why are megalodon teeth getting so much more expensive?”