Movie buffs will have a chance to buy their own Academy Award in a rare auction of an Oscar statuette.

Briarbrook Auctions in Rhode Island is auctioning the 1942 Oscar on Monday.

It was awarded to Joseph C. Wright for colour art direction for his work on My Gal Sal, starring Rita Hayworth and Victor Mature.

The Academy of Motion Picture Arts and Sciences does not allow an Oscar statuette to be sold without first offering it back to the academy for $1.

However, the auction house says that restriction does not apply to awards before 1950.

Wright died in 1985, and his nephew inherited the award.

Wright received 12 Academy Award nominations and won twice, both in 1942.

The auctioneer expects the Oscar will sell for somewhere between $US5000 ($A5400) and $US30,000 ($A32,460).