Since 1951, all Academy Award winners must sign an agreement that they “shall not sell or otherwise dispose of the Oscar statuette, nor permit it to be sold or disposed of by operation of law, without first offering to sell it to the Academy for the sum of $1”.
In 1950 the Academy introduced a law prohibiting the sale of the Oscars. The real price of the statuettes is actually one dollar. In the event that a person wants to get rid of one of the awards, they cannot sell it and will have to return it to the Academy for that price.
According to the Academy's rulebook, if a winner wants to sell his or her Oscar, he or she must offer it to the Academy, which may pay one dollar for the statuette.
There is no direct cash prize for winning an Oscar, no cheque is made out to the winners… but the those lucky enough to lift the 13 and a half inch tall golden statuette, crafted by Polich Tallix fine art foundry in New York's Hudson Valley, will certainly see a boost to their bank account, if not an immediate one.
The statuettes are solid bronze and plated in 24-karat gold. Due to a metal shortage during World War II, Oscars were made of painted plaster for three years. Following the war, the Academy invited recipients to redeem the plaster figures for gold-plated metal ones.
It is composed of 24-karat gold-plated bronze. The sleek award stands 13.5 inches tall and weighs a hefty 8.5 pounds. If cast in 24-karat gold, the award would weigh 22.7 pounds, a mass equivalent to a large watermelon or two-year-old child. Gold is 2.7 times as dense as bronze.
That's because the Academy of Motion Picture Arts and Sciences, which gives out the Oscars, has strict rules in place to prevent winners from profiting off of the sale of their trophies.
The 2023 Oscars ceremony itself has a staggering $56.8 million price tag, according to a report by WalletHub. It's apparently a boon for the local economy, too: Los Angeles reportedly sees a more than $163 million boost from the ceremony.
It depicted, like it does today, a knight holding a crusader's sword while standing on a film reel. The five spokes on the film reel represent the five original branches of the Academy: actors, directors, producers, technicians and writers. The statuette was made of gold-plated bronze.
This provision shall apply also to the heirs and assigns of Academy Award winners who may acquire a statuette by gift or bequest”. So while each statuette costs approximately $400 to produce, their face value is just a dollar.
Based on the cost of materials, each award is estimated to be worth $15. However, once the statuette has been awarded, the actual value drops to 0. because the Recording Academy. prohibits the resale of its awards.
Because the “Everybody Wins” bag isn't officially sanctioned by the Oscars, it is up to Fary to decide which nominees will receive the sought-after bag. The recipients of this year's bag will be the nominees for “Best Director,” “Best Actress,” “Best Actor,” “Best Supporting Actress” and “Best Supporting Actor.”
Everything Everywhere All at Once took home the top prize of the evening, winning Best Picture, along with wins for Best Original Screenplay and Best Director for the Daniels, Best Actress for Michelle Yeoh, Best Supporting Actor for Ke Huy Quan, and Best Supporting Actress for Jamie Lee Curtis.
Are Oscar statues made of real gold? Like so much about Hollywood, Oscar's golden beauty is only skin deep. Today's Oscars are “solid bronze and plated in 24-karat gold,” according to the official Oscars website.
The Academy Introduced a No-Sell Oscar Rule to Its Regulations in 1950. Well, the how and why of the matter is actually quite simple. In 1950, in order to avoid the award from losing its prestige, the Academy introduced a no-sell rule to its book of regulations.
Oscar statuettes seem slender, but they're heavier than they look: Topping the scales at 8.5 pounds and 13.5 inches tall, hoisting these little gold men over your head is akin to lifting a large infant into the air. Multiple statuettes are made for every category each year, and it takes three months to make 50.
There are many food products in the bag – from popcorn to shokupan, a popular Japanese milk bread – and alcohol, including wine and tequila. Nominees will also receive fertility supplements and several beauty and wellness products, from a "bath ritual set," to a silk pillow case to edible massage oil.
The Academy Award statuette's nickname, “Oscar,” has three possible sources. Actress Bette Davis claimed that the name derived from her observation that the backside of the statuette looked like that of her husband Harmon Oscar Nelson. Columnist Sidney Skolsky maintained that he gave the award its nickname.
The statues go only to the producers, not executive producers or associate or anything else. Technically, only three producers can be nominated, though the Academy acknowledges that there are producing teams. So three teams of no more than two people each can be nominated for a possible total of six producers.
The Guardian reported that the 2023 Oscars gift bag contains a total of 60 items. These range from a three-night stay for eight people in a restored Italian lighthouse, valued at $9,000 (nearly Rs 7.3 lakh), to a $40,000 (Rs 32.7 lakh) getaway to a 10-acre Canadian estate called The Lifestyle.
It has to be noted that the actresses do not pay for their dresses, as famous designers such as Dior, Versace or Armani are willing to pay for them themselves.
