Why the Oscar statuette is only worth $1
Though one of the most prestigious awards in the film industry, the Oscar statuette has a very low market value.... Here’s why
The Oscar statuettes are an iconic part of the Academy Awards. Plated in 24-carat gold, each trophy costs approximately $400 to produce.
One of the most frequently asked questions is how much an Oscar is worth. The answer? Buying one is nearly impossible.
In 1951, the Academy of Motion Picture Arts and Sciences (AMPAS) implemented strict rules to prevent the sale of Oscars. If a winner wishes to sell their statuette, they must first offer it to the Academy for just one dollar.
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Article 10: The rule that restricts the selling of Oscar statuette
This rule ensures that Oscars remain in the hands of their recipients rather than those who can afford to purchase them. All nominees sign an agreement prohibiting them from selling their awards if they win. In 2015, a Los Angeles judge reaffirmed this policy.
Article 10 of the Academy’s regulations states:
Originally, the symbolic buyback price was $10, but it was later reduced to $1. This restriction also applies to heirs, who are likewise prohibited from selling inherited Oscars.
Oscars sold despite the ban... It has happened!
Despite these regulations, an estimated 150 to 200 statuettes have been sold—most awarded before 1951 when the rule was enacted. This has created a legal loophole allowing the sale of pre-1951 Oscars.
Several high-profile figures have purchased them:
- In 1999, Michael Jackson bought the Best Picture Oscar for Gone with the Wind (1939) for $1.5 million.
- Steven Spielberg purchased Clark Gable’s Oscar for It Happened One Night (1934) and Bette Davis’ for Jezebel (1938), both for just under $1.5 million, later donating them to the Academy.
- Magician David Copperfield paid $232,000 for Michael Curtiz’s Best Director Oscar for Casablanca (1944).
- Orson Welles’ family sold his Citizen Kane (1942) Best Screenplay Oscar for nearly $800,000.
- In 2001, Kevin Spacey bought George Stoll’s Best Original Score Oscar for Anchors Aweigh (1945) for $150,000 and offered it to the Academy.
While the Academy tightly controls modern Oscars, older statuettes continue to attract collectors willing to pay a fortune for a piece of Hollywood history.
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