All Oscar statuettes issued since 1950 do not really belong to the recipient. If a recipient or the heirs of a recipient wish to sell such an Oscar, they are obligated by contract to offer the Academy of Performing Arts and Sciences the right of first refusal and to transfer it to the Academy in exchange for the payment of one dollar.
Pre-1950 Oscars have no strings attached against the recipients and have great value on the open market or at Beverly Hills garage sales--often in the six figures. The one issued for Best Picture in 1940 (Gone With the Wind) was purchased by Michael Jackson in 1999 for $1.5 million.
What does the Academy do with the used Oscars? Put them on display somewhere? Refurbish and reuse them?
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