"Oscar Statue Resale Value Regulated as Jimmy Kimmel Hosts 2024 Awards"
The resale value of an Oscar statue is strictly regulated by the Academy of Motion Picture Arts and Sciences, with winners required to sign an agreement prohibiting resale without first offering it to the Academy for $1. Legal battles have ensued when individuals attempted to sell their Oscars without adhering to this rule, but there have been instances where the Academy lost cases against resale. Notable sales include Michael Jackson purchasing an Oscar for $1.5 million and Steven Spielberg buying Clark Gable's Oscar for $607,500.