get one statuette of the Oscar awards represents one of the highest achievements for some artists within the film industry, so the statuette is not for sale. However, the Academy of Motion Picture Arts and Sciences decided to put a price to the trophy with the aim that the winners they can’t sell it if they want to get rid of it.
To know the real and approximate price of an Oscar statuette, you have to know the story behind the award and how it is made, since currently one of these awards costs only one dollar, as established by the Academy of Motion Picture Arts and Sciences through a law that was imposed on 1950.
Through the 93 editions of the Oscars, the Academy of Motion Picture Arts and Sciences has awarded around 3 thousand statuettessame as each January are created from solid bronze, plated in 24 carat gold. It measures 34.5 cmso, due to the metals that make it up, it weighs approximately 4 kilosreported that institution.
On the other hand, Epner Technologythe company that is currently in charge of making the statuettes, shared that its composition is: Britannium, a metal alloy of 2% copper, 3% tin, 5% antimony (5%) and is 24 karat gold plated.
Thanks to their characteristics and the way they are made, it is believed that the production cost of each statuette could be approximately $400but its real cost would amount to more than one million due to its importance.
And it is that during much of the first installments of the awards the Oscars were created from And that and they did not have the importance that they later received, there was not a great concern that someone wanted receive an economic benefit for said award.
However, when the statuettes began to be lost, the Academy undertook an initiative so that they could be sold with a maximum price of $10later it was proclaimed that it would be of only one dollar and it was not negotiable.
In a statute that the Academy shared on its website, which in 2015 was ratified by a judge in Los Angeles, California due to the legal dispute that existed over the award that Joseph C. Wright won in 1942 in the category of Best Art Direction for the musical My Gal Saltit reads:
“Oscar winners have no rights to the Academy’s copyright or goodwill, in the statuette or in its trademark and service mark registrations. The winner will not sell or dispose of the statuette or allow it to be sold or disposed of by law, without first offering it to the Academy for the sum of one dollar.. This provision will also apply to heirs and concessionaires.
However, throughout history lost Oscars have been sold at exorbitant prices. One of the most famous cases was when Michael Jackson bought one at auction.
In 1999 the King of Pop decided to purchase for $1.4 million the statuette that in 1940 was awarded to producer David O. Selznick for his film gone With the Wind by Best film and that she was lost. Currently, said award has not been returned to the Academy because it is, once again, missing.