How much can the winner of an Oscar be allowed to sell it for since 1950?

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 US$1. If a winner refuses to agree to this stipulation, then the Academy keeps the statuette.

Academy Awards not protected by this agreement (pre 1950) have been sold in public auctions and private deals for six-figure sums. In December 2011, Orson Welles' 1941 Oscar for Citizen Kane (Best Original Screenplay) was put up for auction, after his heirs won a 2004 court decision contending that Welles did not sign any agreement to return the statue to the Academy. On December 20, 2011, it sold in an online auction for US$861,542.