1948 London Olympics torch sells for $7,000 at auction



2015-06-26 12:55:56

1948 London Olympics torch sells for $7,000 at auction

A 1948 London Olympics torch has beaten its German counterpart at a London auction

A torch from the 1948 London Olympics sold superbly this morning (July 24)as part of an auction of important memorabilia from the Games.

London 1948 Olympic torch London torchesaremore valuable than those from the first modern-era relay

The London sale saw the torch achieve 4,500 ($6,984), moving towards the top end of its 3,000-5,000 pre-sale estimate. The price represents a significant 50% increase on the 3,000 seen by another London torch back in May, and a sign that the market for Olympic memorabilia is strengthening.

This effect has also been seen by a pair of signed Usain Bolt running shoes, which sold for an impressive 25,000 last night- a 1,150% increase on the 2,000 paid for a similar pair in 2010. One of 1,688 torches created for the London 1948 Games, the price achieved is reflective of its comparative ubiquity. An example from the 1952 Helsinki Games - of which just 22 were made - sold for 239,000 at Christie's in 2011.

The record for a torch from the 1948 Games remains 6,463, achievedat Christie's in 2000.

The first ever torch relay of the modern era was introducedat the 1936 Berlin Games at the behest of Dr Joseph Goebbels. Each runner was given a stainless steel holder designed by Carl Diem rather than their own torch, with each one inscribed with the 3,075 km route map from Olympia to Berlin. One such torch holder sold for 2,400 in today's sale. Collectors will have the chance to bid on a further three holders from the 1936 Berlin Games in Bonhams' own Olympic sale, which will be held tomorrow (July 25) in London. Those keen to join the booming sports memorabilia market will want to view our Sporting Greats Investment Portfolio - a fantastic way to start your collection.

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