This Oscar Trophy Became The Second Most Expensive One Ever Sold At An Auction
Every single year, an amazing movie and the talented people behind it get acknowledged in the most prestigious award giving body in the world, The Academy Awards. For decades now, films are chosen as one of the bests from a specific year and is given the amazing Oscar trophy. Most people think that an Oscar trophy is real gold but what makes it even more expensive is the award it gives to films.
Announcing the #Oscars shortlists! What movies will you be adding to your watchlist this season? https://t.co/q8xa1SQsTx pic.twitter.com/QmwipxEz1e
— The Academy (@TheAcademy) December 17, 2018
An Oscar-worthy Trophy
As the most recognizable award in the entire world, but just because they seem so fancy since it is gold covered it was revealed that the famous Oscar trophy is not valuable when it comes to what its made of. However, back in the day, these Oscars statuette are made of solid bronze and are plated with 24-karat gold.
During the Second World War, these were replaced by painted plaster for about three years. Today, the Oscars statuettes are gold-plated britannium that are made of tin. A winner can actually get to sell their Oscars in exchange of cash since they don’t exactly own it in the first place.
That is because according to the rules of the Academy of Motion Pictures Arts and Sciences, these trophies are given to winners to borrow. It started in 1950 when the rule was first applied that Oscar winners have no right to own them anymore.
They can technically have it for themselves to keep but has no right to sell them nor dispose of them without offering it to the Academy for $1. These Oscars trophies may be passed down to generations, especially if the winner has already died, but same rules apply. In 2015, someone attempted to sell an Oscar trophy, and they didn’t stand a chance against the Academy.
They have defended their ownership to the California court and expectedly won the case. However, trophies that were given before the 1950s are allowed to be sold at an auction and they usually cost hundreds of thousands of dollars. In fact, almost half a million was hit not too long ago just for an Oscar statuette.
Most Expensive Oscars
One of the most famous Oscar trophies that were sold at an auction was the Best Picture trophy awarded to the 1939 film Gone With the Wind. It was in 1999 when the King of Pop himself Michael Jackson bought the statuette for $1.54 million at the Sotheby’s auction and it has been the most expensive Oscar statuette ever sold.
Before it was even sold for over a million, the sellers estimated its worth for only around $300,000. Unfortunately, when the 50-year-old Jackson died in 2009, the million-dollar statuette has gone missing. Executors have tried to look for the missing Oscar trophy, which was expected to be either at his home or his Neverland estate.
However, it was nowhere to be found and they speculate that it could’ve been stolen or may be hidden in an unaccounted storage facility. Technically, the Oscar now belongs to Jackson’s children just like most of his properties and other valuables. That is why once it turns up, it should be given to them, but for now, it would seem to have been “gone” with the wind which happens to be so coincidental.
Last weekend, another Oscar trophy managed to snag so much money in an auction. Although it was sold nowhere near the million-dollar Gone With the Wind trophy, it is a close second. The 1947 Oscar Best Picture Trophy that was awarded to the film Gentleman’s Agreement for $492,000.
Sellers were totally surprised at how much this statuette was bought since they only expected it to be sold for half of its now value. Another Oscar trophy was also sold that same day, and that is the Best Picture statuette for the 1935 film Mutiny on the Bounty. However, the biggest win for that particular auction was the papers from the original The Wizard of Oz that was sold for $1.2 million.
A total of $8 million were bought in by Profiles in History since they managed to seek more film items including the ones from Willy Wonka & the Chocolate Factory’s original golden ticket, as well as the helmet from the first Star Wars film. Of course, most of the buyers decided to remain anonymous.
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