Despite nine nominations, the 1941 film "Citizen Kane" only won the Academy Award for best original screenplay.
Nate D. Sanders Auctions isn't identifying the seller, but says the chain of ownership will be provided to whoever wins the auction.
In a 2002 court battle with the Motion Picture Academy of Arts and Sciences, a court ruled Welles' daughter, Beatrice, could sell it. At the time, the Academy valued it at a million dollars.
Right now, bidding is at about $60,000, but that doesn't meet the reserve.
The auction ends December 20.