1st Academy Awards 1st Academy Awards The 1st Academy Awards ceremony, presented by the Academy of Motion Picture Arts and Sciences (AMPAS), honored the best films of 1927 and 1928 and took place on May 16, 1929 at a private dinner held at the Hollywood Roosevelt Hotel in Los Angeles, California. AMPAS president Douglas Fairbanks hosted the show. Tickets cost $5 (which would be $ in considering inflation), 270 people attended the event and the presentation ceremony lasted 15 minutes. Awards were created by Louis B. Mayer, founder of Louis B. Mayer Pictures Corporation (at present merged into Metro-Goldwyn-Mayer). It is the only
Academy Awards open market. Michael Todd's grandson tried to sell Todd's Oscar statuette to a movie prop collector in 1989, but the Academy won the legal battle by getting a permanent injunction. Although some Oscar sales transactions have been successful, some buyers have subsequently returned the statuettes to the Academy, which keeps them in its treasury. In addition to the Academy Award of Merit (Oscar award), there are nine honorary (non-competitive) awards presented by the Academy from time to time (except for the Academy Honorary Award, the Technical Achievement Award, and the Student Academy Awards, which are presented annually): The Academy also