21 December 2011 12:11 AM, PST | WENN | See recent WENN news »

The Academy Award presented to Orson Welles for his work on movie classic Citizen Kane has fetched more than $850,000 (£531,000) at auction.

The movie, which Welles directed and starred in, landed nine Oscar nominations following its release in 1941, but only claimed gold for Best Original Screenplay.

The actor/filmmaker lost the statuette, but it resurfaced nine years after his 1985 death when it was put up for auction by a cinematographer who claimed to have been given it by Welles as a form of payment.

Welles' daughter, Beatrice, reclaimed the Oscar and after a legal battle with bosses of the Academy of Motion Picture Arts and Sciences, she was granted permission to sell it on.

It was part of a Hollywood memorabilia sale at Los Angeles' Nate D. Sanders auction house on Tuesday and a mystery bidder paid out $861,542 (£549,721) for the trophy, after fighting off competition from famed magician David Copperfield.

Auction house owner Nate D. Sanders says, "This is a testament to the popularity of Orson Welles and his magnum opus Citizen Kane. I'm proud to have represented this fantastic award to the cinema collecting community."

Report a problem

Similar News Items

Orson Welles
Citizen Kane (1941)
David Copperfield (I)

IMDb.com, Inc. takes no responsibility for the content or accuracy of the above news articles, Tweets, or blog posts. This content is published for the entertainment of our users only. The news articles, Tweets, and blog posts do not represent IMDb's opinions nor can we guarantee that the reporting therein is completely factual. Please visit the source responsible for the item in question to report any concerns you may have regarding content or accuracy.

See our NewsDesk partners