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Who bought Orson Welles' Citizen Kane Oscar?

Meagan Morris is an entertainment and lifestyle journalist living in New York City. In addition to SheKnows, Morris contributes to many publications including The New York Times, Yahoo! News, PopEater, NBC New York and Spinner. Follow he...

Orson Welles' Oscar sells for $862K

Orson Welles' Academy Award fetched a ton of cash at a private auction. Who ended up winning -- was it David Copperfield?

Orson Welles' Oscar sells for $862K

Orson Welles' Oscar for the Citizen Kane screenplay finally sold at auction on Tuesday night for a cool $862,000. That much we know. Who bought it? That's a good question — the winning bidder wants to stay anonymous.

We know who didn't win the Oscar, though — illusionist David Copperfield put in a large bid for the statuette because the movie legend was an amateur musician. Sadly, the magic world doesn't give Copperfield the means to outbid the winner.

It's actually a good idea for the winner to stay silent — the academy sued Welles' daughter in 2003 for trying to sell it at auction. The people behind the yearly awards ceremony now make winners sign a contract that allows the academy to buy back the statue for $1, if necessary.

The Oscar is actually kind of a big deal since it's the only one Welles won that didn't carry the "honorary" tag in front of it. The academy gave a replacement after it went missing, though. Cinematographer Gary Graver came forward with it in 1994, claiming Welles gave it to him as payment for a debt.

The auction was held on behalf of the Dax Foundation, an organization that has a mission to "identify and assist key individuals and groups who have a vision and commitment to improve the lives of people and animals around the world."

Elizabeth Taylor's jewels bring mega-cash at auction>>

It sounds like $862,000 will do a lot to help improve the lives of people and animals. Let's just hope this is the last time this Oscar goes up for sale.

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