Oscar statue is worth only USD 10

Los Angeles, Feb 25 (PTI) It is the most coveted trophy in the world of entertainment but the Oscar statue itself is worth only USD 10.

The making of the Oscar statue costs USD 400 but as per a rule, before a trophy can be put up for auction, it must first be offered to the Academy of Motion Picture Arts and Sciences fo USD 10, reported the Entertainment Weekly.

Oscar-winner Steven Spielberg, who is one of the supporters of this rule, spent USD 1.36 million on Oscars belonging to Bette Davis and Clark Gable, only to donate them back to the Academy.

The rule was also upheld in a court ruling in 2015.