Profitable an Academy Award is incessantly thought to be probably the most prestigious honor you’ll be able to obtain in Hollywood.
Incomes an Oscar can in an instant permit actors to command up to 20% extra cash on their subsequent challenge. However even though taking house the highest prize in one of the vital most sensible performing classes can also be career-changing, the trophy itself is price not up to a cup of espresso.
That is for the reason that Academy of Movement Image Arts and Sciences, which supplies out the Oscars, has strict laws in position to forestall winners from profiting off of the sale in their trophies.
In reality, in step with the Academy’s reliable laws, winners don’t seem to be allowed to “promote or differently 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 all the way down to their kids, the ones heirs should additionally abide to the similar laws and can not promote or give away the statuette.
Those laws had been first offered in 1951, and are in position to “keep the integrity of the Oscar image,” the Academy says in its fabrics.
Oscars that had been awarded previous to the creation of the rule of thumb are technically truthful recreation for creditors. In 1999, Michael Jackson paid $1.54 million for the most efficient image Oscar awarded to “Long past With the Wind” in 1940. And in 2011, the 1942 Oscar that “Citizen Kane” used to be awarded for its screenplay bought at public sale for $861,542.
Along with proscribing what winners can do with their trophies, the Academy has additionally “sparsely restricted reproductions of the Oscar statuette.” The Los Angeles Instances reported in 2016 that the Academy has sued sweet retail outlets for making chocolate replicas of Oscar statuettes and long gone after awards internet sites that use “Oscar” of their names.
The 94th Academy Awards might be held Sunday, March 27. They’re going to air at 8 p.m. ET on ABC.
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