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The Silver Medal

A valuation for insurance purposes

An email I sent to the AOC on Friday 11th November 2005

Hi

My name is BRETT RONEBERG and I was a member of the Baseball Team at The Athens Olympics in 2004 --- and we won a Silver Medal!!!

Now, I am coming across a bit of a problem

We all know that the atmosphere and excitement of Athens can never be replaced, and, very importantly, that the actual Silver Medal could never be replaced!!!

But I still wish to have it insured - and this is the problem

The insurance company (RACQ Home Insurance) is very happy to cover the Medal, but they need some sort of valuation to base their costs and the cover on

The Olympics have been going for a long time!!! - and I feel that over the years you may have been asked about this and would have some sort of "standard amount" that you could forward to me

Thanks for your time, and I look forward to hearing from you

Brett

My Postal Address is:-
Post Office Box 62
Trinity Beach
Queensland 4879

The reply from the AOC on Monday 14th November 2005

Dear Brett

I refer to your email question above

Surprising as it may seem, we have never received a value placed on any Olympic medals in the past

The value seems to be determined by how much a buyer is prepared to pay for the Olympic medal at the time the medal is placed on the market for sale

The occasions worldwide are few and far between

From memory I think a Silver medal was sold by a Russian a decade ago for about $5,000.00

Sorry we cannot help you any further

Regards
Alan Grover

Group Manager Brand Protection & Special Projects
Australian Olympic Committee
Phone - 61 2 8436 2100
Fax - 61 2 8436 2198
Level 3, 1 Atchison Street, St Leonards NSW 2065
alan.grover@olympics.com.au
www.olympics.com.au

A note from Tanya on Friday 2nd December 2005

This guy is a client of ours who is used by auction houses to help set values of sports souvenir type things
Thought I would ask!!

Tanya's email to Todd Kelly

Hi Todd

I am Bruce and Melinda's secretary

We were having a chat yesterday and your name came up
Bruce said that you are the man to talk to when it come to sporting memorabilia

My brother won a Silver Medal in Athens last year and Dad has been trying to get it valued for insurance purposes
He is having trouble as no one seems to be able to come up with a figure for him

I just wondered if you have any idea or can point me in the right direction for someone who might know

Thanx

......and Todd's reply

Tanya

I can understand the difficulty in getting a value because although the silver component can be valued it is the unique value, sentimental or otherwise, to the winner that is the most valuable but also highly subjective

I spoke to Legends Genuine Memorabilia in Sydney who are probably the #1 supplier of Memorabilia in Oz but they said they knew no-one directly who could value the item

They thought the Australian Olympic Committee should be able to help or some Olympic organization in Oz should be able to assist you

Cheers
Todd


(click on the above logo to go to the Official Web Site)

An on-line Valuation

(I have used this Company numerous times with valuations of Sharon's Antiques and Collectables)

Mr. Smith’s areas of expertise are quite broad based and extensive,
however, his passion lies with watches, clocks and movements
An avid collector and dealer, Mr. Smith is well known throughout Canada and the US,
and his attendance at most major collectible shows allows him to keep in very close contact
with current market values
Fellow dealers requiring clarification of an item’s origin and value, often call upon his knowledge
Mr. Smith is a virtual encyclopedia of information and helps us extensively with the classification
and categorization of items which an appraisal customer may not know when submitting their item
You may catch a glimpse of Mr. Smith bombing around in his vintage TR-6 along the eastern
seaboard during the summer months!
He retains an extensive collection of timepieces as well as early coins and medals
He also enjoys the unique and esoteric
and has a number of very interesting one-of-a-kind collectibles
Organizations
CNA, ONA, ANA, FUN, CAND, NAWCC

The Valuation

NOTE - there is a copy of the valuation certificate below
and you can also click on the above logo to see the Official Archived Certificate

Insurance Value

USD$1000.00 = $1330.00 Australian dollars
as at Tuesday 6th December 2005