“Oscar winners have to sell their trophy for only 1$?” A Must-Follow Rule After Receiving the Award

Why canโ€™t the winners sell their award after the ceremony and have to offer it to the academy for 1$ first? ๐Ÿ’ฒ๐Ÿค”๐Ÿค”Will the winners of 2024 try to sell their trophies, and how will they be sued for that?๐Ÿ˜ต๐Ÿ‘ฉ๐Ÿปโ€โš–๏ธ See the details below in the article.๐Ÿ‘‡๐Ÿป๐Ÿ‘‡๐Ÿป๐Ÿ‘‡๐Ÿป

Winning an Oscar is undoubtedly a massive achievement in the movie industry. However, there might be a catch for the winners.ย 

The stars that won at the 96th Academy Awards are Cillian Murphy, Robert Downey Jr., Emma Stone, and Da’Vine Joy Randolph.

Even if you’re not a huge fan of the Oscars, you probably know the drill: nominees get announced, a winner is declared, and they walk away with that shiny trophy.

But there’s a rule about what winners can and can’t do with the trophy after the ceremony.

The Academy Awards website says winners can only sell their Oscars if they have completed some prerequisites.

You might wonder why one would want to sell their Oscar, considering it’s one of the most greatly-desired awards in the world.

Though it’s rare, highly successful stars might find themselves running out of space to keep all their awards. They might consider trading one for cash or donating it for a noble purpose.

The Academy states: “Winners can’t sell or dispose of their Oscar without first offering it to the Academy for $1.”

You’ve heard it right! Even though the trophy is plated in gold and costs a lot, winners must offer it back to the Academy for just $1 first if they decide to sell it.

This rule also applies to family members or individuals who inherit or receive a trophy as a gift from an Academy Award winner.

The rule has been used since 1951, and it has caused some drama when people break it.

For example, in 2014, Joseph Tutalo tried to sell an Oscar his uncle won in 1943. It sold for a lot of money, $79,200. But then The Academy got mad and sued Tutalo and the auction house for not following the rule.

A judge in California agreed with The Academy and said the person who bought the Oscar had to return it.

But sometimes rules don’t matter much. In 1999, Michael Jackson paid an immense amount of money, $1.5 million, for the Best Picture Oscar, which was won in 1939 by David Selznick. The producer died in 1965.

We hope the winners from last night aren’t considering selling their Oscars. But if they are, they should remember The Academy takes its rules seriously!

 

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