Date: 17th September 2000
For the first time in history, an Oscar will be auctioned online. Pax Television and IBidLive.TV have struck a deal to air "AUCTIONLIVE: THE TREASURES OF JAMES CAGNEY," which will air live online and on television simultaneously on 27 September.
Included as part of the show is the auctioning of Cagney's Best Actor Oscar for 1942's YANKEE DOODLE DANDY. Oscars awarded before 1949 may be bought and sold on the open market. Recipients of Oscars after that date have had to sign an agreement with the ACADEMY OF MOTION PICTURE ARTS AND SCIENCES stating that before any Oscar sale, the Academy has first rights to purchase it for $1 (66p).
In recent years, STEVEN SPIELBERG purchased CLARK GABLE's 1934 Best Actor Oscar for $607,500 (£405,000), while singer MICHAEL JACKSON bought the GONE WITH THE WIND 1939 Best Picture Oscar for $1.54 million (£1,026,666).