How Not to Look After your Olympic Memorabilia!

With the London 2012 Olympics just days away there is an opportunity to acquire a piece of Olympic History in the form of London 2012 Olympic Memorabilia.

There is and will be a diverse range of Olympic Memorabilia available to acquire over the coming weeks and months and this will range from signed photographs through to items worn by Olympians. Sources for Olympic Memorabilia will include auction houses, online websites and specialist retailers all offering the chance to acquire a piece of London Olympic history.

With 205 nations taking part in 300 events the opportunities will be diverse and wide ranging, however, Olympic Memorabilia will not be limited to sports items alone.

We have already been asked to insure an Olympic Torch used in the Torch Relay and associated Olympic Memorabilia with a valuation price of £10,000. This highlights the importance of obtaining a valuation for your Olympic Memorabilia as quickly as possible after purchase, although some retailers will provide an insurance valuation with the purchase.

Once you have the valuation you will then be in a position to arrange the all important insurance cover.

Typically, most standard insurers will require sight of a valuation for any item of Olympic Memorabilia over £1500 in value, however specialist insurers are usually happy to insure items up to £5,000 in value for insurance purposes, without sight of the valuation.

Will you be the one that acquires the most valuable piece of London Olympic Memorabilia either by chance or through an astute and considered purchase? Take a look at our article on the most expensive sports memorabilia ever sold:

Once you’ve acquired the item or collection of London Olympic Memorabilia, you will need to ensure that its well looked after and insured correctly, here’s our 7 top tips on how to keep your Olympic Memorabilia collection safe for a lifetime.  I wouldn’t suggest following the example of Patsy and Edina in Ab Fab!

If you would like any more advice on looking after and insuring your Olympic memorabilia collection, please give us a call or contact us using our memorabilia insurance web form.