The iconic Oscar statuette, long believed to depict a crusading knight, may actually have drawn its design inspiration from an ancient Egyptian god, according to a recent theory presented by an antiquities expert.

Rupert Wace, a London-based art dealer, proposed at the Frieze London art fair that the statue’s design was influenced by a bronze sculpture of Ptah, an Egyptian deity, once owned by Lord Amherst, a former Tory Member of Parliament representing West Norfolk in the 1880s. Lord Amherst was an avid collector of Egyptian artifacts, assembling a significant collection until financial difficulties—stemming from a fraudulent land agent—forced his family to sell parts of it in the 1920s.

Wace’s research indicates the Ptah sculpture was purchased during this period by Randolph Hearst, the American media magnate known for his newspaper rivalry with Joseph Pulitzer. Hearst’s acquisition, via his International Studio Art Corporation art fund, was displayed in his New York residence and at his California estate, San Simeon.

Cedric Gibbons, the MGM art director credited with designing the Oscar statuette, reportedly frequented Hearst’s properties at the time. Gibbons initially cast the Oscar statue in bronze before it was gold-plated and presented to winners at the first Academy Awards ceremony in 1929, which recognized figures such as Charlie Chaplin.

“The visual parallels make a compelling case,” Wace said at the art fair. He emphasized that, while certainty is elusive, confidence in the connection is strong enough to support the sculpture’s sale, which is currently valued at a six-figure sum.

The Academy of Motion Picture Arts and Sciences, however, maintains that the Oscar statuette represents a stylized knight holding a crusader’s sword, adhering to the long-held official interpretation of its symbolism.

This newly proposed linkage to Egyptian art adds a provocative chapter to the history of one of Hollywood’s most recognized symbols, though the Academy’s official stance remains unchanged.