The Oscar statuette is 13.5 inches tall, weighs 8.5 pounds, and costs $400 to produce. Winners don’t own their Oscars, and they can’t be sold without first offering them back to the Academy for $1. During WWII, winners received painted plaster statues, and the name “Oscar” originated in the 1930s. Oscars awarded before 1950 can be sold, and Michael Jackson bought the Best Picture Oscar for Gone with the Wind for $1.54 million.
The Oscar statuettes handed out at the annual Academy Awards ceremony are 13.5 inches (34.3 cm) tall and weigh 8.5 pounds (3.9 kg). The core of the coveted award is made of bronze and its glamorous sheen comes from a 24-karat gold coating. Each figurine costs approximately $400 USD to produce. However, today’s movie stars don’t actually own their Oscars. They are essentially on loan from the Academy of Motion Picture Arts and Sciences. Since 1950, Oscar winners “have no right” to the statuette, according to Academy rules. And in a key 2015 court ruling, it was ruled that an Oscar cannot be sold without the owner (or his heirs) first offering to sell it back to the Academy for a nominal $1 USD.
Oscar’s Supporting Cast:
For three years during World War II, Oscar winners were given painted plaster statues, because metal supplies were scarce. The winners got metal replacements after the war ended.
Although the statuette is officially called the “Academy Award of Merit,” it has been affectionately known as the Oscar since the 1930s; various stories claim that the name “Oscar” originated with actress Bette Davis or Academy librarian Margaret Herrick.
Statuettes awarded before the 1950 rule change can legally be sold, and approximately 150 initial Oscars have been auctioned off. Michael Jackson reportedly bought the Best Picture Oscar for Gone with the Wind (1939) for $1.54 million dollars.
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