Welles' Oscar statuette sells for $861K

Dec. 21, 2011 at 10:10 PM
| License Photo

LOS ANGELES, Dec. 21 (UPI) -- The only Oscar statuette Orson Welles won for his classic drama "Citizen Kane" was sold for $861,542 at a Los Angeles auction this week, officials said.

The Washington Post said the piece of cinematic history was sold by the auction house Nate D. Sanders

to an anonymous buyer.

Welles wrote, directed and starred in the 1941 movie, for which he won the Best Screenplay Academy Award.

He died in 1985 at age 70. His Oscar was believed to have been lost for decades before it landed on the auction block, the Post said.

Hollywood's Academy of Motion Picture Arts & Sciences banned winners and their heirs from selling Oscars beginning in 1950. Welles' statuette was presented to him before the rule went into effect.

Like Us on Facebook for more stories from UPI.com  
Latest Headlines
Top Stories
Malia Obama spotted on the set of 'Girls' in New York City
Tiffani Thiessen gives birth to son, shares first photo on Instagram
Stephen Colbert hosts Michigan public-access show 'Only in Monroe'
Josh Hartnett's girlfriend Tamsin Egerton is pregnant
Tim McGraw is giving away 36 mortgage-free homes to veterans