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Orson Welles' 'Citizen Kane' Oscar for sale

Orson Welles' Oscar for writing "Citizen Kane" -- regarded as one of the best films ever made -- is going up for auction again later this month in a hot market for Hollywood memorabilia, Reuters reports.

Los Angeles auction house Nate D. Sanders said Monday it was selling the best screenplay Academy Award statuette won by Welles in 1942.

Although tarnished by age, the Oscar will carry a reserve price of between $600,000 and $1 million when it goes under the hammer on Dec. 20, auction house spokesman Sam Heller said.

The statuette -- the only Oscar given to "Citizen Kane" -- has a storied history and failed to meet its undisclosed reserve price when it was last up for auction at Sotheby's New York in 2007. At that time it was expected to sell for around $1 million.

But the current seller, who wishes to remain anonymous, and the auctioneer believe times have changed for the better when it comes to selling Hollywood memorabilia.

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