With skier Lindsay Vonn’s gold medal finish fresh in our minds, your BBB reminds Olympic enthusiasts that not all Olympic memorabilia may be authentic and not all items will increase in value.
There are more than 1,700 Olympics’ collectible items currently on eBay Canada and Craigslist for sale with numbers sure to balloon as the Games continue. Consumers need to be vigilant when buying Olympic items to ensure they are not purchasing fakes, or illegal counterfeit merchandise.
For fans looking to purchase Olympic items, your BBB offers the following advice:
Get educated. Collectors should research the value of Olympics-related items before they begin purchasing memorabilia, especially if they are interested in purchasing pieces that have the potential for substantial appreciation in value.
Confirm authenticity. When purchasing Vancouver 2010 merchandise, the Vancouver Organizing Committee (VANOC) encourages consumers to look for the unique hologram that's affixed to each item, a symbol of the product's authenticity. These holograms feature Vancouver 2010 emblems and several layers of security and have been designed to prevent unauthorized copying, protect consumers and assist customs officers.
Make purchases with a credit card. Consumers should always purchase items with a credit card if they are shopping online. If the seller turns out to be fraudulent, then the consumer can dispute the charge with the credit card company and may be eligible for reimbursement.
Purchase items from authorized sources and reputable sellers. When shopping online stores, collectors can go directly to the VANOC website (vancouver2010.com/store). When purchasing items from an individual on eBay, research the seller’s track record by reading buyer reviews. When shopping on Craigslist, go to your local site and never wire money as payment.
Don’t be fooled by empty advertising claims. Just because the seller claims that the item is a limited edition, it doesn’t mean that there weren’t millions made. If the item is being widely advertised, chances are it’s too common to actually gain much value over the years.