Cast in bronze and finished with gold plating, the award is among the most coveted in the film industry — and the Academy values it at just $1. Of course, the Oscar itself is much more costly to produce.
The Academy's rule that regulates the sale of a statue
All nominees sign a contract prohibiting them from selling their award in the event that they are winners. This rule was ratified in 2015 by a Los Angeles judge. Previously it had a symbolic value of $10, but it was agreed to lower it to $1.
While each trophy reportedly costs over $400 to produce, official regulation of the Academy of Motion Picture Arts and Sciences states that the winners or anyone else cannot sell it in the market. It mandates that any resale requires for it to be first offered back to the Academy for $1.
As for the coveted golden Oscars statuette, one may think that it has a hefty price tag. However, the gold-plated trophy is only worth about $400, according to WalletHub, and is 24-karat gold.
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.
MILEI ENFRENTÓ CARA A CARA CRISTINA QUE LO PROCLAMÓ PRESIDENTE
Why is the Oscar only worth $1?
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 actual scrap value of an Oscar, meanwhile, is estimated to be between around $400 to $650 based on calculations from WalletHub and Money.com, but that figure doesn't take into account the years of work, dedication, or sentimental value attached to each statuette.
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 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.
Herman Mankiewicz's statuette for Best Screenplay for 'Citizen Kane' was sold for $588,455. In 1999, Michael Jackson spent an exorbitant 1.5 million dollars to buy the statuette for 'Gone with the Wind', which won the Oscar for Best Film in 1939.
The trophies are actually made of a zinc alloy, which Billings dubbed Grammyum, and then plated in gold. 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.
In 2022, the revenue from advertising during the Academy Awards ceremony reached 139 million U.S. dollars, marking an increase from the previous year''s advertising revenue of 115.3 million dollars.
There have been 44 different actors to have won multiple awards, the first coming in 1937 when Luise Rainer became the original two-time Oscar darling. Some manage to win every time they are nominated.
To date, a total of 82 individuals have achieved this feat on 95 distinct occasions with the multiple winners having won more than one awards that year. The most awards have been won by Walt Disney, who won four Academy Awards in 1954. Of these, ten individuals have achieved this feat on more than one occasion.
Do celebrities have to pay to go to the Oscars? Oscar presenters, performers and nominees do not have to pay to attend the Academy Awards, whether they are celebrities or not. Those who are simply audience members do have to pay for their tickets, whether they are celebrities or not.
Winning an Academy Award is the highlight in the career of an actor, director or screenwriter, and Sunday night's ceremony will be no exception. But in the 93-year history of the award, three people have refused the Oscar after winning it.
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.
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”.
Prior to 1950, Oscar statuettes were (and remain) the property of the recipient. Since then the statuettes have been legally encumbered by the requirement that the statuette be first offered for sale back to the Academy for US$1. If a winner refuses to agree to this stipulation, then the Academy keeps the statuette.
The Award of Merit statuette, commonly known as the “Oscar,” is the copyrighted property and registered trademark and service mark of the Academy of Motion Picture Arts and Sciences (“Academy”).
Who knows the winners before they're announced? According to the academy website, just two PricewaterhouseCoopers partners know the results beforehand.
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.
However, the title for the cheapest movie to win the award goes to Barry Jenkins' 2016 coming-of-age Moonlight. A24 decided to finance Moonlight in 2013, and the film began the company's foray into production, immediately winning them a 'Best Picture' title.
