Oscar winners have to sign an agreement and follow one strict rule after receiving award
Winning an Oscar has to be one of the greatest achievements in the movie industry, but the award does come with a stipulation for winners.
Cillian Murphy, Robert Downey Jr., Emma Stone and Da'Vine Joy Randolph are just some of the stars who took to the stage at the 96th Academy Awards last night after they were named winners in their respective categories.
Even if you're not a big fan of the event, I'm sure you know how it goes: the nominees are named (usually), the winner is announced, and they're handed the iconic, shiny trophy to take home.
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It sounds simple enough, but there is actually a rule surrounding the trophy and exactly what winners can do with it once they leave the stage.
The 'regulations' section of the Academy Awards website explains that Oscar winners are banned from attempting to sell their trophies unless they meet a certain requirement first.
I know what you're thinking - the Oscars statues are among the most coveted in the world, why would anyone try to sell one?
Well, it's unlikely, but it is possible that particularly successful stars might start running out of space to put their awards and decide to swap one for cash, or perhaps attempt to sell off the statue for a good cause.
Whatever the reason for selling an Oscar may be, The Academy explains: "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."
That's right - the statue might be plated in gold, but winners are tied to offering it to the Academy for just $1 if they choose to sell it.
The website adds: "This provision shall apply also to the heirs and assigns of Academy Award winners who may acquire a statuette by gift or bequest."
The rule has been in place since 1951, and it's even sparked lawsuits against some who failed to comply.
In 2014, Joseph Tutalo auctioned off an Oscar that his uncle, Joseph Wright, had won in 1943. It successfully sold for $79,200, but The Academy then sued Tutalo and the auction house for breach of contract.
A California judge later ruled in favor of the Academy, forcing the person who'd won the auction to return the statue.
However, it seems there are times when the rules have been bent, with money exchanging hands in 1999 when Michael Jackson forked out $1.5m for the Best Picture Oscar awarded to producer David Selznick in 1939. Selznick died in 1965.
Hopefully none of last night's winners will be thinking about selling the Oscars just yet, but if they are, they better let The Academy know first!
Topics: Oscars, Cillian Murphy, Emma Stone, Academy Awards
Emily Brown