The daughter of Orson Welles was forced to withdraw her father’s CITIZEN KANE Oscar , expected to fetch at least $300,000 at a Christie’s auction, when the Academy threatened to exercise its right to purchase the statue for $1. The $1 rule only came into effect in 1950, 9 years after Kane, but Beatrice Welles was affected by a technicality.
n 1988, three years after Welles’ death, his youngest daughter and sole heir, Beatrice, requested a duplicate Oscar from the Academy, believing the original had been lost. By then, the group had passed a rule requiring all winners sign an agreement giving the Academy the right to purchase any Oscar put up for sale for only $1. The Academy made Beatrice sign such an agreement before giving her a copy of her dad’s statuette.
The statement she signed for the duplicate also extended to the original should it ever be found, and it was.
I don’t dispute the legality of the Academy’s right to buy back any Oscars for $1, but do you think it’s a fair stipulation? It’s ultimately just a statue: you’re not buying the right to say “I won this for making CITIZEN KANE”, you’re just buying memorabilia, the same as if you were buying the model of Xanadu or Rosebud (which sold for a relatively paltry $233,500 when you consider its history).
If I won an Oscar for my own work, such as Harold Russell, I would much rather know that if my widow or children ever fell on hard times the statue would help them through it than that they’d be the only people in the tenements with a gold plated statue worth $1 in their closet. This is especially true if its for a supporting performance or lighting effects in a movie rarely even seen anymore, as was the case with
Kevin Spacey and Spielberg, incidentally, have spent millions between them buying back pre 1950 Oscars. Apparently, until all the Oscars are back in one place, other Oscar winners turn into skeletons in the moonlight.
You’re much better off winning a Nobel Prize: they don’t care if you spend the prize money on research, hookers, houses, or some combination thereof.
Thoughts?