Here are 7 facts you may not know about the Oscar statuette

A symbol of the Academy Awards, the Oscar statuette has come to represent perfection in the world of cinema. Here are some facts about this 13.5 inches tall statuette which every performer in the world seeks

Who makes the statuette
The Chicago-based company R.S. Owens that manufactured the statuette since 1982 lost the contract to produce the sought-after trophies. It was replaced by the New York company, Polich Tallix Fine Art Foundry in 2016. A lost wax process is being used by the new company to produce the 24-karat gold-finished bronze statue. These are based on a digital scan of the 1929 statuette

The name Oscar
The statuette is well known by the name Oscar. While the origin of the nickname has not been established there's a popular story that when Academy librarian Margaret Herrick first saw the trophy she remarked that it looked like her Uncle Oscar. The Academy adopted the nickname officially in 1939.

Skipping the Oscars
Many celebrities have skipped the awards both deliberately as well as by chance. Some of the prominent ones are as follows. Marlon Brando skipped the ceremony when he won for 'The Godfather'. Roman Polanski didn't attend the 2003 ceremony when he won for best director for 'The Pianist'. Michael Caine couldn't attend when he won for best supporting actor in 'Hannah and her sisters' as he was busy filming 'Jaws: The Revenge'. Katherine Hepburn has won the most number of Oscars till date but never attended the ceremony to accept the awards in person. Paul Newman finally won in 1987 for 'The Colour of Money' but was not there to accept it. He famously said that he was tired of having waited for an Oscar.

MJ and the Oscar auction
Michael Jackson was a movie buff and had bought the best picture Oscar awarded to legendary producer David O. Selznick for the 1939 classic Gone With the Wind at a Sotheby's auction for $1.54 million. The 1940 Oscar was awarded before there were rules against selling them but when Jackson died, the award could not be found on his estate.

Who won the most Oscars
Katherine Hepburn holds the record for having won the most number of acting Oscars. She had a long career spanning 66 years. She never turned up to accept any of the awards famously saying, "My prize is my work".

No selling an Oscar
Here's a surprise. Winners do not own the statuette, it's on loan to them. Oscar is a copyrighted work. There are official regulations against selling it. The winners cannot sell their Oscar without first offering to sell it back to the Academy for $1. This makes each one worth a mere $1.

Oscar surplus?
The Academy is not sure how many Oscars will be awarded on a night until the sealed envelopes are opened. The possibility of ties is always there. Surplus awards are housed in the vault of the Academy and may be used next year.