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James Cagney Oscar goes on the block online

Oscar is sold online for the first time ever. It may also be the last since selling Oscars won after 1949 has been banned by the Motion Picture Academy.

The first, and possibly last opportunity to buy an Academy Award Oscar statue online is taking place on Ibidlive.tv.

The site is auctioning James Cagney's 1942 best-actor Oscar for his role in Yankee Doodle Dandy. It is possibly your last chance to get your hands on one of the famous statues because no Oscars awarded after 1949 are allowed to be sold.

The Academy Award will be auctioned next Wednesday by traditional auction house Doyle New York, but organisers hope to open it up to a broader audience through Ibidlive.tv. Though the auction itself will be a black-tie affair, "there will be people bidding in their sleepwear," says Ibidlive.tv CEO Rolfe Auerbach.

Proceeds from other Cagney items will go to the acting great's descendants, but money from the Oscar sale will go to a private foundation focused on blindness. The Middle East’s super-rich may have to check their credit card limits before bidding for the Oscar. Previous auction for the statues have reached price tags of over $1 million.

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