'Citizen Kane' Oscar sells for over $861,000 at auction

citizen-kane-oscar.jpgThe Oscar statue awarded to Orson Welles in 1941 Best Screenplay for "Citizen Kane" has sold at auction for $861,542 in Los Angeles Tuesday (Dec. 20). Auctioneer Nate D. Sanders says in a statement:

"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. Welles received this award for best original screenplay, which was, incredibly, the only Oscar that either 'Citizen Kane' or Orson Welles received."

That is rather astounding, as "Citizen Kane" is largely regarded as one of the best, if not the best, movie of all time. It was also nominated for Best Picture and Best Director and Actor for Welles, but lost to "How Green Was My Valley" for the first two and Gary Cooper in "Sergeant York" for the latter.

Welles also starred in, wrote or directed (among others) "The Third Man," "Touch of Evil," "The Magnificent Ambersons" and "Jane Eyre," but never received any other awards besides this Oscar statuette.

The buyer of the statuette is undisclosed at this time, though interestingly, magician David Copperfield was the runner-up bidder.

The statuette, 12 inches tall and weighing 7 pounds 5 ounces, was sold from a private collection, which acquired it from the Welles estate. Prior to that, it had been in his daughter Beatrice's possession since 1994.

Photo/Video credit: RKO Pictures, Getty Images