People are only just discovering the ridiculous amount celebrities have to pay to get a star on the Walk of Fame

Short of winning an Oscar, few things say you've arrived like having your name set in stone in Hollywood.

However, it turns out that the price of being among the hallowed and iconic names on the Walk of Fame is actually very expensive.

Hollywood charging people exorbitant amounts of money for a public honor? I know, I'm as shocked as you are.

It's not just money that you need to get your name there though, and there are strict criteria over how someone can apply for their star.

There are five categories for different kinds of star, these include film, television, recording, radio, live performance, and sports entertainment, though there are some exceptions - for example, for astronaut Neil Armstrong.

So, just how much does it cost?

The Hollywood Walk of Fame (Grant Faint/Getty)

Well, there's initially a fee of $275 to apply for a star to begin with.

If you are accepted, then there is subsequently a sponsorship fee of $85,000 to cover the costs of the star's production and instalation, as well as the maintenance of the walk.

This is not generally paid for by the nominee themselves, but by whoever is sponsoring them.

While many people have taken their place on the Walk of Fame, it's certainly not an essential element of becoming a Hollywood star.

Many stars have been nominated for a spot on the Walk of Fame, but have turned down the opportunity.

Two notable examples are Prince and Bruce Springsteen, who were both nominated but declined.

Walk of Fame producer Ana Martinez even altered the rules that a star has to sign off on their nomination after a mixup involving Springsteen.

Many celebrities have a star on the Walk of Fame (Grant Faint/Getty)

She told PEOPLE: “We announced it, and he did not want it. So I created what’s called the ‘Springsteen Clause’, which you now have to sign off on it. Because otherwise, it’s not fair to those who do want it.”

Anyone can nominate a celebrity for a spot on the Walk of Fame, but the celebrity themselves has to agree to the nomination.

Then, of course, there's the small matter of the sponsor forking out that $85,000.

The Walk of Fame is a massive tourist attraction in Hollywood, with more than 2,800 people already honored on the walk.

Generally, there are around 25 new ceremonies added to the Walk of Fame every year, and it draws around 10 million visitors every year hoping to come across the star of their favourite celebrity.