Leonardo DiCaprio may have walked away empty-handed yet again from last night’s Academy Awards ceremony (he’s been nominated four times, most recently for The Wolf of Wall Street), but last month saw the team here at borro get their hands on a prestigious Oscar statue. It wasn’t for our skilful film editing, screenplays or even our costume design, but as security for a luxury asset bridging loan.
The story was covered in the UK press last month, unfortunately the identity of the owner cannot be revealed due to reasons of confidentiality, but as all modern Oscars remain property of the Academy, it must have been won before 1951. borro CEO Paul Aitken commented on the story, saying: “Over the last five years we’ve seen a huge increase in wealthy individuals using their personal assets as collateral for loans, however the Oscar statuette is a first for us.”
The Value of an Oscar:
- Orson Welles’ 1941 Best Original Screenplay award for Citizen Kane was sold for £541,083 at auction in 2011.
- 1939’s Best Picture winner Gone with the Wind’s award was purchased by pop sensation Michael Jackson in 1999 for over one million pounds.
- Academy Awards’ rules state that they have first refusal on anyone hoping to sell one of their statues – for the handsome price of one American dollar.
- Each award is plated with 24ct gold worth around one thousand dollars.
- It is estimated that over 70 Oscar statues have been sold on “the black market” to get around the Academy’s strict rules on selling.