An Oscar trophy has recently been used as collateral for a $70,000 loan from Borro, a finance company for those with valuable assets. The only clue to the identity of the unknown Hollywood star is that only trophies won before 1951 can be sold without prior approval from the awards Academy. It may be a famous actor or it could even be a relative of a star who has passed away.
Although the gold statuettes only cost £250 to make, they attract much larger sums when they are sold at auction. One of the most recent examples was the Academy Award won by Gone with the Wind, for 1939 Best Picture Oscar, sold to Michael Jackson for $1.5 million. Although the details of the star cannot be revealed by Borro, it has been narrowed down to a person who won the award before 1951 and lives in America. Awards which are won after 1951 are technically the property of the Academy and they have to be given the opportunity to buy back the statuette for just $1.
The loan company lends out amounts up to £1 million against valuable assets, including luxury cars, fine art, antiques and other assets. If the loan isn’t repaid, the secured item will be sold at auction to recoup the debt. Perhaps when the golden statuette is returned to the owner, it will be displayed in an antique cabinet to reflect its age. Preston UK has reputable antiques dealers with a selection of fine pieces to offer.
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