2012 Olympic Games memorabilia to be auctioned
Organisers of the 2012 Olympics Games are to sell off sporting memorabilia to raise cash
The market for sporting memorabilia is to receive a new boost after Olympic Games organisers announced they will be selling off thousands of items following the London 2012 Games.
The auction follows the decision byseveral Olympic torchbearers to sell their personal torches online. The auctions were initially met with controversy,although the majority ofprofits went to charitable organisations. The official sale, held by the London Organising Committee of the Olympic and Paralympic Games (LOCOG), will help cover the staggering 2bn cost of staging the Olympics in London. The event has been plagued by budgetary doubts since its announcement, though the organisers claim they are on target. The auction, whichhas opened for bids on a few preliminary items, will be running until long after the Games. Highlights so far include the Olympic torch which David Beckham carried as the flame arrived in the UK, complete with an autographed shard of metal. Bids currently stand at 5,000 and are steadily increasing with days left to bid. Also included in the auction is Jonathan Edwards' signed Olympic torch from this year's Games, which is currently selling at 1,000, and a Sebastian Coe signed art print from the Moscow 1980 Games, whichis likelyto sell for under 100. With low minimum bids, the sale provides an excellent chance for collectors to buy important items at superb prices. Paul Fraser Collectibles has this fantastic signed football shirt from David Beckham at unbelievable value. See our full range of sporting memorabilia here for some brilliant keepsakes from historic events.