Oscars Are Not For Sale

According to an agreement made between Oscar winners and the Academy of Motion Picture Arts and Sciences, you can not sell your Oscar to the highest bidder. Of course, this agreement has only been in effect since 1950 and values the statuette at $1.00. This has not barred, however, the selling of older Oscars. Although you won’t see the Oscar’s being sold at Sotheby’s or Christie’s, there is still a market for them.

Steven Spielberg bought Bette Davis’ 1938 Best Actress Oscar for Jezebel for $578,000. He then returned it to the academy where they stored it in their vaults. They do not displayed old Oscars.

Magician David Copperfield purchased the 1943 Best Director Oscar for Casablanca for $232,000. He keeps the statue in his bedroom. He states “Objects should be where they do the most good.” Copperfield says the Oscar would do more good for him–the symbol of excellence is a source of inspiration for his own work–than it would in a closet filled with other statuettes at the academy.”