August M
Taking home an Oscar may be the pinnacle of an artist’s career, but the iconic trophy comes with a condition many winners never talk about.
If you ever win an Acadamy Award, would you be willing to sell it?
Most of us, who can only drem of receiving such an honor, would probably say no, but there are actually examples of previous winners selling their statuettes – and getting sued by the Acadamy for it.
Not because they sold it – but because they broke a specific policy.
Legal challenges and rare exceptions
In one of the most recent cases, UNILAD reports that Joseph Tutalo auctioned an Oscar in 2015 originally awarded to his uncle, Joseph Wright, in 1943.
The trophy was sold for $79,200, but the Academy sued Tutalo and the auction house for violating the resale requirement.
A California judge later ordered the buyer to return the statuette.
UNILAD notes, however, that the enforcement history has not been entirely consistent. In 1999, Michael Jackson purchased the 1939 Best Picture Oscar awarded to producer David Selznick for $1.5 million.
According to Bennet Awards, industry experts speculate that approximately 150 Oscar statuettes have been sold since the first ever Acadamy Awards took place in 1929.
If those numbers hold up, it means that more than 1½ of the golden statuettes awarded every year is expected to get a new owner at some point, as the Oscars have been around for 98 years.
The one-dollar stipulation
According to UNILAD’s reporting, the Academy’s rule has been in place since 1951 and states:
“Award winners shall not sell or otherwise dispose of the Oscar statuette… without first offering to sell it to the Academy for the sum of $1.00.”
UNILAD notes that the rule was crafted specifically to stop Oscars from becoming high-value commodities on the open market, ensuring that the awards remain symbolic achievements rather than tradable collectibles.
What winners must remember
Looking ahead, UNILAD emphasizes that anyone who wishes to sell, transfer, or dispose of an Oscar must follow the Academy’s protocol — which means offering the statue back for a symbolic dollar before taking any other action.
The rule may seem unusual, but as UNILAD’s coverage highlights, it remains one of the most firmly upheld traditions surrounding Hollywood’s most famous trophy.
Sources: UNILAD
This article is made and published by August M, who may have used AI in the preparation
