Is now the time to sell your 2002 Olympics merchandise?
Jul 22, 2024, 10:46 PM | Updated: Jul 23, 2024, 9:09 am
SALT LAKE CITY — As Utahns know, one of the fun things about hosting the Olympics is all the unique swag: the coats, the pins, the hats, the pins, the stuffed animals, the pins – did I mention the pins? People go crazy for those enamel lapel pins!
And while it was fun to collect the 2002 memorabilia at the time but be honest. Much of it has spent the last 20 years gathering dust at the bottom of a drawer or in a box stuffed in a closet, right? Well, dig it out because maybe – just maybe – the souvenir could be treasure.
I looked at some of the current 2002 Winter Games merch selling on the resale website, eBay. I found stuffed toy versions of the Salt Lake mascots going for $31.99. I’ve seen used tickets going for $60. And a handful of enamel pins sold for $60. And the prices go up from there. A set of Olympic coins listed at just one penny below $1,800. Torches that once carried the Olympic flame are going for $2,000. That’s the price it’s fetching today, but is it the best price?
The KSL Investigators recently found this trio of Salt Lake 2002 Winter Olympics mascots selling for $32 on eBay (KSL TV)
With Olympic pride once again bursting in Utahn with the anticipation of hosting the Winter Games a second time, is now a good time to dust off our memorabilia to try to make a buck or two?
To try to gauge the answer, the KSL Investigators asked eBay for some of its internal, historical data and they happily agreed to share.
We learned the fact that it is an Olympics year is certainly not lost on the world. eBay users searched “Olympics” nearly a thousand times every hour during the first five months of 2024. In March, when momentum began building for Salt Lake City to host the 2034 Olympics, global searches for “Salt Lake Olympics” jumped nearly 25% on eBay compared to the month prior. And searches for “2002 Olympics Pins” jumped more than 70%.
YouTubers Larry and Hope Ware test out practical frugality skills. Things you and I can do in our own homes to save a buck or to make one.
“We have used the process of getting rid of things around our house a lot,” laughed Hope when I asked them about making a small fortune getting rid of little things around their house.
So, I asked Hope Ware, “If I’m ready to part with my 2002 Roots beret, how do I get the best price?”
Hope Ware, YouTuber and co-host of “Under the Median” suggests including any information and photos of your Olympics memorabilia that shows it in use during the 2002 games. That added provenance can help boost its value to buyers. (Nathaniel Gillis)
“You need to figure out what the value is in the first place,” she answered.
Yeah, search around on websites like eBay or KSL Classifieds and try to figure out what similar items are going for and then how yours compares. Then it’s time for marketing.
Don’t show a dingy torch on a dingy couch. Show it well-lit against a plain background. Or better yet, prove it has pedigree or provenance. Show any photo or video you might have of that actual torch being run down the street if you have that snap.
“Anything that makes that item of clothing, or that souvenir stand out above the rest of the souvenirs that are being offered,” Ware said. “You want to make sure that you highlight that.”
She says detailed, honest descriptions also go a long way to making folks feel good about clicking “buy now.” When it comes to the sale item’s title – be direct.
“Don’t get cutesy with your titles,” Ware warned. “So, people aren’t going, ‘I have no idea. What is that they’re trying to sell.’”
Yeah, it’s not a “bearer of the fire within.” It’s a “torch!”
Those 2002 Roots berets were ubiquitous during the actual Games. Ware says on items like this, research and find comparable items on resale websites to gauge their value to buyers. (eBay)
Timing is, of course, also a factor. With Olympic stuff, the iron may be hot now with it top of mind, but holding onto those items longer could be a gamble that pays off. eBay’s data shows that the average sales price of “Salt Lake Olympics pins” has doubled since 2016.
But waiting may also have you facing more competition. In 2022, the 20th anniversary of the Salt Lake City Winter Games, the number of “Salt Lake City Olympics” items sold on eBay increased by over 150% compared to the year prior. And those enamel lapel pins? The number for sale on eBay was up 380%.
“If you got a bunch of 2002 Utah Olympic stuff, would you wait until the Olympics are maybe coming back here in a decade or so?” I asked Ware.
“Everything’s trendy,” she answered. “I think it depends on how anxious you are to get it out of your house and make top dollar.”
In the past four years, the most expensive Salt Lake City Olympics item sold on eBay was a “US Olympics Salt Lake City 2002 Relay Torch and Running Suit.” In October 2020, it sold for $3,800.
