Bidders dont bid enough for Orson Welles’ Oscar

December 13th, 2007 - 4:24 pm ICT by admin  

Washington, Dec 13(ANI): Legendary director Orson Welles Oscar for Citizen Kane has been withdrawn from the block as it failed to draw suitable bids.

Sotheby’s was forced to pull out the Hollywood icon’s Oscar, for writing his 1941 masterpiece as all offers were below the minimum price set by the seller, reports E! Online.

The trophy being auctioned by a Los Angeles-based charity, Dax Foundation was expected to fetch between 800,000 dollars and 1.2 million dollars.

Sotheby’s sales estimate was based on the sale of the Best Picture Oscar for Gone with the Wind that fetched 1.5 million dollars, while Vivien Leigh’s Best Actress statuette went for 550,000 dollars.

Now, the auctioneers are considering selling the trophy privately.

Meanwhile, the 156-page screenplay of Citizen Kane, which was supposedly based on the life of newspaper magnate William Randolph Heart, was sold for 97,000 dollars. (ANI)

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