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Academy unhappy but helpless to stop Oscar auction

Associated Press – Sat, Feb 25, 2012 12:45 PM PST

BEVERLY HILLS, California (AP) — The Academy of Motion Picture Arts and Sciences is not pleased with plans to auction off 15 Oscar statuettes from such films as "Citizen Kane," ''Wuthering Heights" and "Little Women."

But the academy says its hands are tied in blocking the Tuesday sale by Nate D. Sanders Auctions because the statuettes were awarded prior to 1950, when a "winners agreement" was instituted banning the sale of Oscars.

"Oscars should be won, not purchased," the academy said in a statement, adding that it had no "legal means of stopping the commoditization of these particular statuettes."

The Sanders Co. expects its total Oscar inventory, which includes Herman Mankiewicz's 1941 screenplay award for "Citizen Kane," to command more than $1 million.

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All Comments

80 comments

Telstar62 • 3 months ago
Well, to be fair, the recipient will have to WIN the auction.
- buddy 3 months ago
  True and funny...hahahaha
Doratea • Stillwater, Oklahoma • 3 months ago
The academy could just get all their people together and buy them.
- Viewer 3 months ago
  Hey now...there's a thought! I mean, if they are as outraged as they say.
- finneous 2 months ago
  They already know what one is worth though, so instead they wil try to guilt the buyers into feeling like they "need to preserve history" by donating them. "Hollywood is a big worldwide draw, america needs this now, bla bla bla"
UbiquityHasRisen • 3 months ago
""Oscars should be won, not purchased," the academy said"

Oh the hypocrisy. The studios spend millions lobbying/advertising to help their pictures win Oscars.
- rippie dave 3 months ago
  i think they meant "bought, not sold."
Jen • 3 months ago
If the receipants or their estates can't sell off these awards, what is suppose to be done with them? Donate them to a museum?
- R 3 months ago
  that's the agreement
- teaser 2 months ago
  During the annual (televised) awards ceremony, Oscar winners are presented with cheap fake Oscar statuettes. After the ceremony (since 1950) they redeem their cheap fake for a real Oscar, only after signing the "winner's agreement." The agreement specifies that an Oscar can only be sold (back) to the Academy of Motion Picture Arts & Sciences for $1.00. However, it may be gifted, bequeathed or donated. Any person in possession of an Oscar presented in 1950 or later is legally bound by the "winner's agreement." As any personal property, when the owner dies an Oscar is inherited by a surviving relative or other person designated as beneficiary. Cinematography is a huge part of our cultural history, and any unwanted Oscar would most certainly be welcome at The American History Building of the Smithsonian, near Fonzie's leather jacket, Archie Bunker's chair and Dorothy's ruby red slippers.
Methos • 3 months ago
What a joke .. Oscars get bought every year....
David • Reston, Virginia • 3 months ago
$1,000,000 real money to me and you ....peanuts to hollywood....buy the #$%$ things yourself and take them off the market....end of story
R • 3 months ago
"Oscars should be won, not purchased," ...just as they should be EARNED not "bought"
Unknown Comic • 3 months ago
"Oscars should be won, not purchased," the academy said in a statement. Well in my opinion, for the last several years most of the people winning the "Oscars" were not the best ones deserving to win. The winners as of late are chosen more by popularity or who the press has speculated will win. I feel the "real" winners have been cheated so why not let people buy the "Oscars". That way maybe one of the "real" winners could buy the one they were cheated out of winning. :P
socal • San Marino, California • 3 months ago
If bit and pieces of Chinese emperors' and Egyptian pharaohs' tombs can be sold at "art" auctions, Oscars can be auctioned off too.
Mike • Orlando, Florida • 3 months ago
Yawn 2.0
Lydia • Pleasanton, California • 3 months ago
If the recipient has died what the heck are the families suppose to do with them.I would melt one down and use the meny to buy movie tickets.Can't afford to go to theaters any more at $10-12 a person.
- real athlete 3 months ago
  They're not made of solid gold you idiot. They're gold-plated bronze. It would cost you more to melt it down than you would get from the materials. I'm guessing it's stupidity like that which is responsible for you not being able to afford a movie ticket.
- Lydia 3 months ago
  Thanks for calling me an idiot. I really did not know that they were not a more precious metal.BTW I can't afford movie tickets because I live on disability and never have any money left for fun things.It seems I remember reading a lot of people suggesting that they be melted down.Are they all idiots ? No need to be so mean spirited.
Lil MsMe • New Hampshire, Ohio • 3 months ago
I'm sorry, but I feel that if it's my property I should be able to do whith it what I want...LOL
itsme • 3 months ago
rick perry should get an oscar for his protrayal of a presidential candidate.
buddy • 3 months ago
Who cares, really ?
DAVID • Reseda, California • 3 months ago
The winners would buy them back, but all of their careers tanked after winning. Nicolas Cage anyone?
R • 3 months ago
why don't they just make an offer and buy them back. My guess, a million is a drop in the bucket for the academy...then they don't have to get all weepy about the outcome.
Thomas • 3 months ago
for prosperity, why doesnt the academy buy them, then sell tickets to tourists to come view them,,, makes money doesnt it?
v007x • 3 months ago
"Oscars should be won, not purchased." Harvey Weinstein was unavailable for a rebuttle.
carl • Brookline, Massachusetts • 3 months ago
If these are all pre 1950 I doubt if any of the winners are still around and most likely the family would rather the cash, Such is life
dodie • 2 months ago
Some of the Oscars are awarded for good work but most are just a "who do we like" , personality contest just like we are back in jr high.