{"id":127873,"date":"2015-08-14T01:03:34","date_gmt":"2015-08-14T01:03:34","guid":{"rendered":"http:\/\/151.106.38.4\/2015\/08\/14\/academy-can-reclaim-auctioned-oscar-statuette-for-10\/"},"modified":"2015-08-14T01:03:34","modified_gmt":"2015-08-14T01:03:34","slug":"academy-can-reclaim-auctioned-oscar-statuette-for-10","status":"publish","type":"post","link":"https:\/\/nagalandpost.net\/index.php\/2015\/08\/14\/academy-can-reclaim-auctioned-oscar-statuette-for-10\/","title":{"rendered":"Academy can reclaim auctioned Oscar statuette for $10"},"content":{"rendered":"

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An Oscar statuette that changed hands last year for $79,200 (\u00a350,726) can be reclaimed by the Academy of Motion Picture Arts and Sciences for just $10 (\u00a36.40), a Los Angeles judge has ruled.<\/div>\n
The ruling was made after an agreement was reached between the Academy and Nate D Sanders, an auction house that specialises in movie memorabilia.<\/div>\n
The golden statuette in question was awarded in 1942 to Joseph C Wright for his colour art direction on My Gal Sal.<\/div>\n
His heirs sold the Oscar in June 2014.<\/div>\n
The Academy tried to prevent the sale, claiming it breached a rule, instituted in 1951, that Oscar winners and their heirs cannot sell statuettes without first offering it to the organisation for $10.<\/div>\n
The Academy\u2019s lawyers argued that Nate D Sanders was aware of the requirement when it bought the Oscar at a sale organised by Rhode Island firm Briarbrook Auctions.<\/div>\n
Nate B Sanders previously handled the auction of 15 Oscar statues, a collection whose sale fetched more than $3m (\u00a31.9m), in 2012.<\/div>\n
\u201cThe Oscar is perhaps the world\u2019s most distinctive and prestigious award for achievement in the arts,\u2019\u2019 said Gary E Gans, the lawyer who represented the Academy in the protracted litigation.<\/div>\n
\u201cThis case established that the Academy can maintain the dignity and value of such an award by keeping it from becoming a commodity.\u201d<\/div>\n
Last year the Academy took legal action against the heirs of another Oscar winner – cinematographer Robert Surtees – after they allegedly sold one of his awards on eBay.<\/div>\n
\n<\/div>\n","protected":false},"excerpt":{"rendered":"

An Oscar statuette that changed hands last year for $79,200 (\u00a350,726) can be reclaimed by the Academy of Motion Picture Arts and Sciences for just $10 (\u00a36.40), a Los Angeles judge has ruled. The ruling was made after an agreement was reached between the Academy and Nate D Sanders, an auction house that specialises in […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[688],"tags":[],"class_list":["post-127873","post","type-post","status-publish","format-standard","hentry","category-infotainment"],"_links":{"self":[{"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/posts\/127873","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/comments?post=127873"}],"version-history":[{"count":0,"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/posts\/127873\/revisions"}],"wp:attachment":[{"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/media?parent=127873"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/categories?post=127873"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/tags?post=127873"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}