The Best Actor trophy, which was handed to Cagney for his role in musical flick 'Yankee Doodle Dandy', fails to attract bidders.
- Nov 22, 2014
AceShowbiz - An Oscar statute received no bid in a rare auction which took place recently. A Best Actor trophy which was awarded to James Cagney for his role in 1942's musical flick "Yankee Doodle Dandy" failed to attract bidder in an offering which started on Thursday, November 20.
According to Reuters, auction house Nate D. Sanders said on Friday that they were trying to hold a private auction for the trophy which is currently owned by a private collector. Biding started at $800,000 and was expected to reach $1 million. "If it's an Oscar like this, which is considered one of the best ones, James Cagney's Oscar ... will command a really high price," auction manager Laura Yntema said on Wednesday.
Cagney, whose credits included "White Heat" and "Angels with Dirty Faces", was nominated for Oscar three times. He passed away in 1986 at the age of 86.
Academy of Motion Picture Arts and Sciences does not allow Oscar winners to sell their statue. Since 1951, the Academy requires Oscar winners to sign a statement saying that they or their heirs will not sell their golden statue before offering it first to the Academy for $1. They have filed lawsuits against people who tried to sell the trophies.
