The statuette for best original screenplay — the only non-honorary Academy Award Welles won — was purchased by an anonymous buyer, according to auction house Nate D. Sanders.
Magician David Copperfield, who owns props from the 1941 film, also bid on the Oscar, saying he admired Welles “not only a magician of the cinema,” but because the auteur was an actual magician.
The Oscar, thought to be lost for many decades, failed to sell at auction in 2007. It was sold by the Dax Foundation, according to the Wrap.
Despite the current state of American economy, celebrity auctions have been going very well lately. Elizabeth Taylor’s jewelry collection recently sold for over $8.8 million at auction, and items from Michael Jackson’s final home brought in nearly $1 million.