Welle's Citizen Kane Oscar To Go On Sale For About $1 Million

The only Oscar ever won by Orson Welles -- for co-writing Citizen Kane -- is due to be auctioned off online by Nate D. Sanders Auctions on December 20, and presumably between now and then, the Academy will make some effort to prevent the sale from going forward. It has long fought efforts to sell the statuettes and requires recipients to sign a statement in which they agree that before any sale takes place, they must first offer them to the Academy for $10.00. But Sam Heller, a spokesman for the auction house, says that Welles never signed the statement. Heller told the French news agency Agence France-Presse that the trophy will carry a reserve price of between $600,000 and $1 million. When it previously went on sale at Sotheby's in 2007, it failed to attract a bid above the reserve.



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