Winning an Oscar is often considered the most prestigious award one can receive in Hollywood.
Earning an Oscar can allow actors to instantly charge up to 20% more money for their next project. But while taking home the grand prize in one of the best acting categories can be career-changing, the trophy itself is worth less than a cup of coffee.
That’s because the Academy of Motion Picture Arts and Sciences, which awards the Oscars, has strict rules in place to prevent winners from profiting from the sale of their trophies.
In fact, according to official Academy rules, winners are not permitted to “sell or otherwise dispose of the Oscar statuette…without first offering to sell it to the Academy for the sum of $1.”
And if an Oscar winner dies and passes their award on to their children, those heirs must also follow the same rules and are not allowed to sell or give away the statuette.
First introduced in 1951, these rules are designed to “preserve the integrity of the Oscar symbol,” the Academy says in its materials.
Oscars awarded before the rule was introduced are technically fair game for collectors. In 1999, Michael Jackson paid $1.54 million for the Best Picture Oscar for 1940’s Gone With the Wind. And in 2011, the 1942 Oscar that Citizen Kane received for its screenplay sold for $861,542.
Not only has the Academy restricted what winners can do with their trophies, they have also “carefully limited reproductions of the Oscar statuette.” The Los Angeles Times reported in 2016 that the academy has sued candy stores for making chocolate replica Oscar statuettes and prosecuted award websites that use “Oscar” in their name.
The 94th Academy Awards will take place on Sunday March 27th. They air at 8:00 p.m. ET on ABC.
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