Why Oscar winners can't sell their ₹34K gold-plated statuettes
What's the story
The 24-karat gold-plated Oscar statuettes, each worth about $400 (roughly ₹35,000), contribute significantly to the estimated $57 million (₹497 crore) production cost of the annual Academy Awards ceremony. Standing 13.5 inches tall and weighing 3.86kg, these trophies are painstakingly made from gold-plated bronze. But, there's a catch: Winners can't sell their Oscars without first returning them to the Academy for a token fee of just $1.
Rule enforcement
Academy's strict rule to maintain Oscars's integrity: In detail
The rule is clearly mentioned on the Academy's website: "Award winners shall not sell or otherwise dispose of the Oscar statuette, nor permit it to be sold or disposed of by operation of law, without first offering to sell it to the Academy for the sum of $1." This rule applies not just to winners but also to anyone inheriting an Oscar. The Academy enforces this stipulation strictly across all award categories.
Auction loophole
Pre-1951 Oscars sold for over $3 million due to loophole
In 2012, 15 Oscar statuettes awarded before this rule (in 1951) were auctioned. This loophole permitted these early trophies to be sold, with total sales crossing $3 million (approximately ₹26.2 crore). One of the items was Herman Mankiewicz's 1941 Best Screenplay statuette for Citizen Kane, which sold for an impressive $5,88,455 (about ₹5 crore). Despite the Academy's regulations, there's still a market for Oscar trophies, as this auction proved.