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Why Oscar statuettes are only worth $1

todayMarch 27, 2022

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Profitable an Academy Award is usually thought of probably the most prestigious honor you’ll be able to obtain in Hollywood.

Incomes an Oscar can immediately enable actors to command as a lot as 20% more cash on their subsequent mission. However though taking residence the highest prize in one of many high appearing classes could be career-changing, the trophy itself is price lower than a cup of espresso.

That’s as a result of the Academy of Movement Image Arts and Sciences, which provides out the Oscars, has strict guidelines in place to forestall winners from profiting off of the sale of their trophies.

In reality, in line with the Academy’s official laws, winners will not be allowed to “promote or in any other case get rid of the Oscar statuette … with out first providing to promote it to the Academy for the sum of $1.”

And if an Oscar winner dies and passes their award right down to their youngsters, these heirs should additionally abide to the identical guidelines and can’t promote or give away the statuette.

These guidelines had been first launched in 1951, and are in place to “protect the integrity of the Oscar image,” the Academy says in its supplies.

Oscars that had been awarded previous to the introduction of the rule are technically honest recreation for collectors. In 1999, Michael Jackson paid $1.54 million for the perfect image Oscar awarded to “Gone With the Wind” in 1940. And in 2011, the 1942 Oscar that “Citizen Kane” was awarded for its screenplay bought at public sale for $861,542.

Along with limiting what winners can do with their trophies, the Academy has additionally “rigorously restricted reproductions of the Oscar statuette.” The Los Angeles Occasions reported in 2016 that the Academy has sued sweet retailers for making chocolate replicas of Oscar statuettes and gone after awards web sites that use “Oscar” of their names.

The 94th Academy Awards shall be held Sunday, March 27. They’ll air at 8 p.m. ET on ABC.

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Written by: soft fm radio staff

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todayMarch 27, 2022

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