Picking up from the report published in January (see Oscar Statuette Legal Dispute Between Heirs & The Academy), the L.A. Times today reports that a jury has decided in favor of the Academy of Motion Picture Arts and Sciences (AMPAS), prohibiting the sale of a 1930 Oscar (Academy Award) which heirs of Mary Pickford had planned to auction, with proceeds to benefit a charity, the Buddy Rogers Youth Symphony. The Academy has the first right of refusal to buy the award – valued at hundreds of thousands – for $10.
Statues awarded after 1950 are legally encumbered and winners and their heirs must give the Academy first right of refusal to buy back the award for a nominal sum. Oscar statuettes that have sold in the open market that are not subject to this requirement have sold for large sums of money, even exceeding $1,000,000.
This case sets a new precedent and makes matters more problematic, in that the Oscar under dispute was actually awarded to Pickford in 1930, and the legal team for the Academy convinced the jury (with an 11-1 vote) that this specific award should be grandfathered into the 1951 “first refusal” contract, based on Pickford’s role as founder and lifelong member of AMPAS.
The full details can be found in the L.A. Times story (Jury bars auction of Mary Pickford’s Oscar):
Feature Archive: Jury Bars Auction of Mary Pickford’s Oscar
Mary Pickford’s estate was auctioned last month (see Julien’s Auctions “Pickfair Estate Auction” In Beverly Hills – November 22-23, 2008).
Jason De Bord