In 1992, in a controversial decision, Russell consigned his Oscar for Best Supporting Actor to Herman Darvick Autograph Auctions, and on August 6, 1992, in New York City, the Oscar sold to a private collector for $60,500 ($105,500 today). Claiming he needed money for his wife's medical expenses, Russell defended his action, saying, "I don't know why anybody would be critical. My wife's health is much more important than sentimental reasons. The movie will be here, even if Oscar isn't." However, the Academy of Motion Picture Arts and Sciences, which objects to the selling of its awards, disputed that motivation, stating that in actuality his new wife merely "wanted to take a cruise". The Academy has required all Oscar recipients since 1950 to sign an agreement forbidding them from selling their award; as a pre-1950 winner, Russell was exempt from this provision.
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