Everyone wants to win an Oscar--perhaps maybe this year more than ever. You see, for this, the 80th annual Academy Awards, those pretty gold statuettes are actually worth twice what they were worth last year. They're made out of an alloy called Britannium, and plated in copper, nickel and silver, and then a heavy layer of 24-karat gold. With gold prices hitting a record high today, that makes all those materials more valuable.
Last year an Oscar cost about $300 dollars to make. My helpful commodities expert, George Gero from RBC Capital markets says the cost of the materials has gone up by almost 100 percent, making its value nearly $500. But don't think Oscar winners can cash in the prize if they're really tight on cash--winners sign a document saying they'll never sell their Oscar. Too bad: Clark Gable and Bette Davis' Oscars were sold before the rule went into effect for more than $500,000 each.
At 13 and a half inches they weigh in at eight and a half pounds, which feels really heavy for something so slender. Today I got to spend some quality weight lifting time with a real Oscar at the 'Meet the Oscars' exhibit at Hollywood and Highland, the complex where the Kodak theater stages the event on Sunday.
There's something just so cool about holding an Oscar--and it's set up on a pedestal so the thousands of people who walk through the exhibit can make their own acceptance speech. But there's no chance everyone will walk away with the priceless statue- it's tethered to the ground and watched by a guard. He kept a close eye on me when I held the Oscar during a TV segment earlier today, I was looking awfully comfortable with it!