Orson Welles' 'Citizen Kane' Oscar to Be Auctioned

December 13, 2011 - 9:05 PM

LOS ANGELES (AP) — The Academy Award Orson Welles won for writing the classic film "Citizen Kane" will be sold to the highest bidder.

Auctioneer Nate D. Sanders plans to sell the Oscar statuette on Dec. 20.

Welles also earned nominations for acting in and directing the 1941 film.

The Academy of Motion Picture Arts and Sciences declined to comment Tuesday on the planned auction. Since 1950, it has required Oscar winners to promise they will not sell their statuette before offering it back to the academy for $1.

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Online:

http://www.natedsanders.com