The Academy Awards are just around the corner and we're all rooting for our favourite actors and films to bag the awards. *read Joaquin Phoenix*
But have you ever wondered what the Oscar winners actually take home? Obviously, there's the Oscar trophy, officially called the Academy Award® of Merit, which is a very prestigious award to hold.
The trophy is plated with 24-karat gold and made of bronze. The Oscar stands tall 13½ inches and weighs a 8½ pounds, and takes around three months to make.
But apart from the title of being an 'Oscar winner' and the trophy, what does this coveted award offer? Well, to be honest, nothing. Nothing that the other nominees don't already get.
There is a $100,000 swanky gift bag that Oscar nominees receive, that contains some extravagant goodies, including a 12-day yacht vacation. Business Insider also stated that the gift bag includes experiences like a mansion stay at Los Coast Ranch in Northern California, a stay at The Grand Hotel Excelsior Vittoria in Sorrento, Italy and a vacation at the Grand Hotel Tremezzo in Lake Como, Italy. All the nominees are delivered this gift bag, whether they win or not.
However, there is something called the 'Oscar Bump' in which the people who have won the Oscar get a salary bump. However, studies specifically show that there is an 81% bump in pay for male actors that have taken home an Oscar. There is no evidence about the female actors getting a pay-rise though.
So why don't they just sell their Oscar? That's not as simple as it seems either. Because before you try bidding off the Oscar which has been won after 1951, you must offer it to the Academy of Motion Picture Arts and Sciences for just $1.
This rule has simply been put into place because the Academy believes that an Oscar needs to be won, and not bought. But if someone does get the opportunity to sell it, the price can go up to $1 million! So it's quite a win-win situation.