Auction of 15 Oscar Award Statues Fetches $3 Million

Memorabilia attached to films and film stars always attracts a lot of attention and there is a long history of cars, dresses and movie props used in iconic films that have created a buzz in major auction events. Dresses worn by major iconic celebrities like Audrey Hepburn and Elizabeth Taylor have fetched record prices at auctions after some hectic bidding. But recently news about the auction of a collection of an unusual movie memorabilia surprised many. It was reported that 15 Oscar Award statues went under the hammer.

This was not the first time that an Oscar statue was auctioned but it was special as it became the single collection to have fetched the highest price. Individual statues went for different prices but the total added up to $3 million. The statue given to Herman Mankiewicz for writing the script of Citizen Kane received the highest individual price of $588,455 at the auctions. The value of these statues is entirely notional as they have no monetary value attached to it. It is valued for the pride and honor it brings to the person who receives it.

The Academy of Motion Picture Arts and Sciences had originally introduced a special contract with all winners of the award to prevent them from selling the trophies. They had suggested only a token penalty of $1 for those who violated the contract as they did not expect the artists to sell the statues. But the times seem to have changed completely. Fans today are willing to come up witrh large amounts of cash to hold the iconic statues in their hand. The auctions were organized and managed by Nate D Sanders.

Via: reuters

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