Since 1950, the statuettes have been legally encumbered by the requirement that neither winners nor their heirs may sell the statuettes without first offering to sell them back to the Academy for $1. If a winner refuses to agree to this stipulation, then the Academy keeps the statuette. Academy Awards not protected by this agreement have been sold in public auctions and private deals for six-figure sums (Levy 2003).
Source: http://en.wikipedia.org/wiki/Academy_Awards
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