The awards in question were all won before 1950

The Academy Of Motion Picture Arts And Scientists have hit out at a scheduled auction of genuine Oscar statuettes.

A sale is sue to take place of 15 Oscars, including those won for Citizen Kane and Wuthering Heights.

According to the Huffington Post, the Academy has condemned the auction, but admitted that they are powerless to stop it, since the awards date back to before 1950, when a ‘winner’s agreement’ was introduced banning the sale of Oscars.

A statement said: “Oscars should be won, not purchased,” but added that there is “no legal means of stopping the commoditsation of these particular statuettes.”

The auction in question is beng carried out by the Mate D Sanders Auction house, who estimate their entire Oscar inventory to be worth around $1 million (£630,000).

Last night (February 26) saw the 84th Academy Awards take place, with The Artist taking home five awards including Best Picture, Best Director and Best Actor, with Hugo winning in five less prominent categories.

‘The Artist’ and ‘Hugo’ win big at the 84th Academy Awards

Oscars 2012 – Ten Memorable Moments


Oscars: ‘The Artist’ talent admit to resistance from Hollywood

Gallery – Oscars 2012 In Photos