Oscars 2022: Why the worth of an Oscars trophy is 1 dollar? History of trophy

by Shatakshi Gupta

The Academy Award or Oscars are the most covetous honor for cinema persons across the world. On Monday, the 94th Academy Awards were announced, on which the eyes of the world were fixed. Many films and persons won the award in different categories. All of us check the list of winners, but very few people are intrigued to know more about the history of the most covetous trophy in the cinema industry. If you have the curiosity to know about the history and value of this trophy, we are telling sharing some interesting facts regarding the Oscar trophy. 

 To whom this trophy resembles?

The first academy award event was held on 16 May 1929. The design of the trophy was discussed for the first time at a meeting of the Academy of Motion Pictures Arts and Sciences in 1927. While discussing, many artists from Los Angeles were asked to present their designs. At this time, the sculpture made by sculptor George Stanley was chosen. According to reports, the trophy given as the Oscar award is said to be inspired by a Mexican filmmaker. The most prestigious award statue is inspired by the dashing good of a human being Emilio Fernández.

What is the story behind the statuette?

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Born in 1904 in Coahuila, Mexico, Emilio grew up during the Mexican Revolution. In 1928, MGM’s chief art director was searching a model to help him design the look for a trophy.  Fernandez, a high school drop out, becomes an officer for the Hurrista rebels. He was also sentenced, but he fled from there. In industry, he was named El Indio by silent film star Dolores Del Rio.

He had become a good friend of actress Rio. Rio Metro Goldwyn was the wife of Cadrick Gibbons, Art Director of the Mayer Studio and a member of the Academy of Motion Picture Arts and Sciences. 

Del Rio introduced Fernandez to Gibbons, who was working on the design of the statue at the time.  Gibbons asked Fernandez to pose for a sketch that was the basis for the trophy weighing 8.5 pounds. Fernandez posed beman and that became the iconic pose. George Stanley prepared it and this trophy was handed over at the first Oscar ceremony in Los Angeles in 1929.

Worth of stattuete:

According to the rules of Oscar, the Oscar winner does not have full ownership of this trophy. A recipient  cannot sell the trophy anywhere else even if he wants to. If a winner wants to sell this trophy, then first of all it will have to be sold to the academy that gave this trophy At the same time, the academy will buy this trophy for only 1 dollar.  Therefore, the cost of this trophy is considered to be one dollar.  However, if we talk about the cost of making it, then it costs a lot.

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