Based on a recent report published by Reuters, the Oscar statuette won by Orson Welles in 1942 will be auctioned later this month. The statuette was handed to the director for having written and produced the most interesting movie, “Citizen Kane”.
Los Angeles auctioneer, Nate D. Sanders told the press that the statuette is worth around $1 million due to its physical and spiritual value. First of all, the Oscar contains elements of precious metal and second of all, it belonged to one of the best screenplay writers of America, Orson Welles. The auction will end on December 20, according to the official declarations of the organizers.
The Orson statuette has gone through a series of events until now because the actual owner declared it lost before he died. In 1985, the Oscar was found by Welles’ daughter, Beatrice, after the director’s death. She was determined to sell it, but the Academy of Motion Picture Arts and Sciences did not agree with her intentions. Despite their resistance, Welles’ daughter won the trial in 2002 and, thus, she obtained the right to sell the figurine.
Even though the “Citizen Kane” trophy is full of significance, nobody wanted to buy it in December 2007, when Beatrice Welles put it to sale at Sotheby’s in New York. The golden figurine was acquired from the Welles estate by a US charitable foundation.
Although the statue has some tarnishing on the legs, it is still in a very good condition. According to Sanders, the figurine deserves to be bought because it is a tribute to one of the most important movies in the American culture. The motion picture tells the story of a newspaper magnate who is determined to get the supremacy. The movie is believed to represent the life of the US press baron William Randolph Hearst. This masterpiece was produced by Orson Welles when he was only 25 years old.
Sanders further described the statuette; it weighs 7 pounds and 5 ounces and it is 12 inches tall. The person who will win the auction will also receive the complete chain of ownership record.