Within the movie trade, an Academy Award is widely-regarded as probably the most prestigious accolades one can obtain.
Those that win massive on the star-studded occasion are ceaselessly overcome with emotion, reminiscent of Halle Berry, whose 2002 acceptance speech for her historic Finest Actress win is remembered as probably the most impassioned to ever be delivered on stage.
Ever since 2010, it has turn into custom following the awards ceremony for the night’s winners to take their statuettes to be engraved with their names.
One would assume that the golden collectible figurines, etched with the names of among the most high-profile people in Hollywood, could be price a fantastic deal.
Nevertheless, the worth of an Oscar is definitely far decrease than one might assume.
How a lot does it value to make an Oscar and the way a lot is it price?
In a 2017 video produced by Coinage, Time Inc.’s private finance firm, it states the price of making an Oscar statuette is round $400 (£307).
Nevertheless, this isn’t truly how a lot the golden determine is price.
In 2015, a Los Angeles decide dominated that an Oscar statuette gained in 1942 by Joseph C Wright for Finest Artwork Route within the Rita Hayworth musical My Gal Sal – which was beforehand bought for $79,200 (£61,180) – may very well be reclaimed by the Academy for $10 (£7.72).
From 1951 up till just lately, a rule stipulated that those that win Oscars and their heirs can not promote their golden collectible figurines with out first providing them to the Academy for $10.
Nevertheless, a number of years in the past the regulation modified, so these in possession of an Oscar who want to promote it should first supply it again to the Academy for $1 (77p).
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“Academy Award winners haven’t any rights in anyway within the Academy copyright or goodwill within the Oscar statuette or in its trademark and repair mark registrations. Award winners should adjust to these guidelines and rules,” it states on the Oscars web site.
“Award winners shall not promote or in any other case get rid of the Oscar statuette, nor allow it to be bought or disposed of by operation of legislation, with out first providing to promote it to the Academy for the sum of $1.”
The assertion provides that this rule additionally applies to “the heirs and assigns of Academy Award winners who might purchase a statuette by present or bequest”, and that miniature statuettes are topic to the identical ruling as standard-sized statuettes.
How a lot have Oscars been bought for previously?
Regardless of the strict guidelines which were put in place to stop golden Oscars for being bought for stratospheric sums, this hasn’t prevented some statuettes from being auctioned previously.
In 1999, Michael Jackson bought the Finest Image award gained by producer David O. Selznick for the 1939 romance Gone With the Wind for $1.54m (£1.19m), Self-importance Truthful states.
In the meantime, the Finest Actress award Vivien Leigh gained for her efficiency within the movie was bought in 1993 for greater than $500,000 (£386, 382).
Three years later, the Finest Actor award acquired by Clarke Gable for the 1934 movie It Occurred One Night time was purchased for greater than $600,000 (£463,659).
Ever because the first Academy Awards ceremony in 1929, greater than 3,000 Oscar statuettes have been offered to winners.
