The Academy Awards are often considered the ultimate measure of a film’s success and quality. However, not all Best Picture winners remain unforgettable classics. In some cases, the movies that were overlooked by the Academy end up becoming legendary. Here are three prime examples.
The Shawshank Redemption (9.1)
Directed by Frank Darabont and based on a novel by Stephen King, this film tells the story of a successful banker who attempts to escape from a maximum-security prison after being convicted of murdering his wife and her lover.

Today, the 1994 classic The Shawshank Redemption is featured in nearly every list of the greatest films of all time. It was nominated for an Oscar, but that year’s Best Picture award went to Forrest Gump.
Avatar (8.0)
Now studied in film institutes and used as a case study in digital artistry, Avatar was groundbreaking when it premiered in 2009.

Beyond its technical achievements, the film shattered box office records, grossing nearly $3 billion worldwide. It was also nominated for an Oscar, but the Best Picture award that year went to The Hurt Locker.
The Wolf of Wall Street (8.0)
This biographical crime comedy follows a ruthless cynic on his quest to become the most successful businessman. Critics praised the film for its outstanding performances, sharp storytelling, and dark humor.

In 2014, The Wolf of Wall Street, starring Leonardo DiCaprio, was nominated in five Oscar categories — but didn’t win a single award. That year, 12 Years a Slave took home the Best Picture honor.