Award winners 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 $1.00.
Ever since 1951, those lucky few that manage to win their much-coveted trophy from the Academy of Motion Pictures Arts and Science are completely forbidden from selling it to third parties, at least not without first offering 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.
Do actors pay to go to the Oscars? No. The Oscars are the biggest awards show, not only in Hollywood, but the world, and actors clammer to be a part of it. If an actor is chosen to be a presenter, they'll show up for a rehearsal or two to check their lighting and their lines before the actual event.
Mostly, stars are loaned a dress (usually by a brand they're affiliated with) or, sometimes, paid to wear a certain designer gown to ensure valuable publicity for the brand – even better if the star in question wins one of the coveted gold statuettes.
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.
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.
Through a study carried out by IBISworld some time ago, it was estimated that the average salary of an Oscar winner rises by up to 20% after receiving the award, so although they don't receive anything directly, it does increase their income.
Which celebrity keeps their Oscar in the bathroom?
Kate Winslet: In the Bathroom
With so many of her guests asking where she keeps her Best Actress Oscar, which she won for The Reader in 2009, Kate Winslet made it easier for everyone by placing her prized possession on "the back of the loo."
And if an Oscar winner dies and passes their award down to their children, those heirs must also abide to the same rules and cannot sell or give away the statuette. These rules were first introduced in 1951, and are in place to "preserve the integrity of the Oscar symbol," the Academy says in its materials.
No one has ever surrendered their Oscar. After Will Smith smacked Chris Rock at the 2022 Oscars, the Academy felt the ire of viewers demanding they rescind Smith's Best Actor trophy or for Smith to return it in shame. Neither happened. People don't willingly give up major awards like that.
Another case involved an Oscar won by Orson Welles in 1941 for “Citizen Kane.” In that instance, Welles' heir was successful in obtaining the rights to sell his statuette after arguing that Welles never agreed to the provisions. The award eventually sold for $861,542 in 2011, Reuters reported at the time.
One such rule prohibits the recipients or their heirs from selling or disposing of the statuette without first offering it back to the Academy for $1. The Academy first introduced an early form of this provision in 1951, though they initially set their own buyback price at $10.
Who knows the winners before they're announced? According to the academy website, just two PricewaterhouseCoopers partners know the results beforehand. PwC is the accounting firm that tabulates the votes. Each partner is stationed in the Dolby Theatre's wings during the ceremony with a full set of winners' envelopes.
Who won the most awards in one night? Bong Joon Ho won four Oscars for “Parasite" in 2020, tying with a record Walt Disney set in 1954. The South Korean director picked up best director, best international film, best original screenplay and best picture.
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.
The Academy of Motion Picture Arts and Sciences, which hosts and coordinates the awards each season, has strict rules regarding the statuettes. The official regulations state that winners cannot sell their Oscar without first offering to sell it back to the Academy for $1, which makes each one worth a mere $1.
The famously most expensive dress ever worn at the Oscars so far is the one Jennifer Lawrence took to the stage in 2013. This large, soft pink gown was from the Dior Couture collection, and was lent to the beloved actress on the day she picked up her Best Actress award — and even tripped on it.
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.
How much does it cost to get a dress for the Oscars?
Because the cost of a look varies based on a person's stardom, the average cost of a look at the Oscars is about $1.5 million. In 2014, Cate Blanchett made Oscar history when she wore a $18.1 million look.
