HOLLYWOOD - Movie legend Orson Welles' Academy Award is to be auctioned in New York later this year.

The accolade, won by Welles for Best Screenplay for the 1941 movie Citizen Kane, will be sold at auction house Sotheby's on Dec. 11.

Sotheby's predicts the golden statuette will sell for between $800,000 and $1.2 million.

However, the Academy of Motion Picture Arts and Sciences is not supporting the sale.

Bruce Davis, executive director of the Academy says, "We're never happy to see Academy Awards go on sale."

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