There’s no question that winning an Oscar is prestigious, but what most people don’t know is how little the statue is actually worth — only a $1.
It all comes down to a provision in the official regulations put together by The Academy of Motion Picture Arts and Science which hosts and coordinates the Oscars distributed to Academy members which states winners can not sell their Oscar statues without first offering to sell them back to the Academy for just a $1 each.
Now your probably wondering, just because the Academy has the right to buy the statue back for $1, does this actually get enforced?
In 2015 this was put to the test when Joseph Wright’s Oscar for “My Gal Sal” which he won in 1942 ended up with Hollywood memorabilia company Nate D. Sanders. The Academy sued to get the Oscar back and ultimately won, enforcing the value of an Oscar at just $1.
“Wright’s continued membership in the Academy was predicated on his agreement to the new right of first refusal in its bylaws,” wrote Los Angeles Superior Court judge Gail Ruderman Feuer in an opinion, per The Hollywood Reporter.
Winning an Oscar, prestigious? Yes. Great for a person’s career? Most definitely? Valuable in it of itself? Nope. In fact, your better of selling your old clothes on Etsy than reselling one. Who would have thunk.
Feature Image: Twenty20
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