Welles' Citizen Kane Oscar to Be Auctioned
Statue changing hands for charity.
The Hollywood Reporter shares the news that the auction house will be facilitating the sale of Orson Welles' 1941 Best Screenplay Oscar for Citizen Kane in December. The award has had a colorful history, as summarized by the Reporter:
The golden statuette, believed to have been once lost by Welles himself, resurfaced in 1994, and after an extended legal battle was returned to his estate. In 2003, it was acquired by the Dax Foundation, a Los Angeles-based charity. The proceeds will help fund the organization's worldwide efforts.
Bruce Davis, executive director of the Academy of Motion Picture Arts and Sciences, is quoted as saying "We're never happy to see Academy Awards go on sale," but says the Academy has no plans to block the sale. Sotheby's estimates Welles' award will fetch between $800,000 and $1.2 million. If you don't have that kind of cash, but are going to be in New York in early December, you can still get a look at the Oscar; Sotheby's will have it on display from December 7-10.
Source: The Hollywood Reporter