The Oscar Award is one of the most prestigious honors in the film industry, and everyone working in the seventh art dreams of winning one at some point in their lives. The coveted Oscar statue is one of the most famous trophies in the world, but is it really worth that much?
The Oscar statue has been in use since 1929 and has since become a symbol of excellence in cinema. Here we tell you everything about it.
How much does the Oscar statue cost?
Making an Oscar statue costs approximately $400; however, its actual value is only one dollar (no, it’s not worth thousands of dollars).
Is the Oscar statue made of gold?
Its dazzling golden color may make you think that the award is made of solid gold. In fact, throughout the history of the Academy Awards, many statues have been stolen and later sold on the black market.
What many people don’t know is that the famous Oscar statue is made of britannia and a metal alloy of copper (2%), tin (93%), and antimony (5%). In the end, the trophy is coated with 24-carat gold to give it the shiny golden tone.
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How is an Oscar statue made?
These awards are manufactured at the UAP Polich Tallix foundry in Rock Tavern, New York. First, 3D models are molded in wax and then covered in ceramic. Once the mold is made, the metal mixture is poured inside to form the statue.
For the Academy Awards, 50 of these trophies are made, so the process can take up to three months.
Can an Oscar statue be sold?
No. Since 1950, the Academy of Motion Picture Arts and Sciences has implemented a rule requiring winners or their heirs to offer the statue back to the Academy for the symbolic amount of one dollar before selling it to third parties. This rule is aimed at protecting the cultural value of the award and preventing its commercialization in the public sphere.
It is important to note that this regulation does not apply to awards given before 1951, which has led to large sales. However, the Academy has taken legal actions to recover these statues.
History of the Oscar
After the creation of the Academy of Motion Picture Arts and Sciences in 1927, a dinner was held in the Crystal Room of the Biltmore Hotel in the heart of Los Angeles, where the goals of this new entity were discussed.
One of the priorities was to develop a system that recognized exceptional achievements, thus promoting high standards of quality in all aspects of film production.
In one of the many subsequent meetings, Cedric Gibbons, art director at MGM, designed a statue that depicted a knight with a sword, standing in front of a roll of film. The five spokes of the film represented the five original branches of the Academy: actors, directors, producers, technicians, and writers; while the sword symbolized the defense of the well-being and progress of the film industry.
The design was immediately approved by the Board of Directors. By early 1928, Gibbons selected the sculptor George Stanley, based in Los Angeles, to bring his creation to life in three dimensions. In the final version, the figure of the knight was well defined, and the film roll was placed at his feet.
Thus, the iconic statue we know today was born. Since the first awards ceremony, held on May 16, 1929, in the Blossom Room of the Roosevelt Hotel in Hollywood, nearly 3,000 statues have been handed out. Every January, R.S. Owens & Company, a renowned awards company based in Chicago that the Academy has hired since 1982, melts, molds, polishes, and lustrously finishes new golden statues.
When will the 2025 Oscars take place?
The 97th edition of the Oscar Awards will be held on Sunday, March 2, at the Dolby Theatre in Ovation Hollywood.
Where can I watch the 2025 Oscars?
The awards ceremony will be broadcast live on ABC and will also be streamed live on Hulu.
