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David Beckham Olympic Torch Sees Huge Auction Bids

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David Beckham Olympic Torch Sees Huge Auction Bids
[ Business]

The torch that was carried by David Beckham as part of the 2012 London Olympic Opening Ceremony is getting some huge bids at the official London Olympic Auction Site. According to The Daily Mail, The auction only went up last night and already the bid is up to £5,250.00, which translates to over $8,000 US dollars. Not bad for an opening that started at £50.00 and still has 13 days to go. Did we mention they only cost £500 to produce? That’s already quite a profit.

The aluminum torch, which won Design of the Year at the London Design Museum, is accompanied by a metallic shard signed by the football (soccer) player.

It is being sold through the London Olympic Organising Committee (LOCOG), who is selling a lot of Olympic memorabilia for the games. They describe it as “a piece of history from the unforgettable journey of the Olympic Flame through more than 1,000 cities, towns and villages in the UK over the course of 70 days, shining a light on the very best of Britain.”

The site will also sell of the baton for the men 4 by 100 relay and tennis balls from the Olympic tournament. This direct commercialism has seen its fair share of critics, who argue the Olympic Games are becoming nothing more than a cash grab opportunity for countries lucky enough to be selected to host the event. LOCOG argues that the funds raised are going to be used to offset the cost of hosting the games. They deny that they are following in the footsteps of torchbearers who have taken to eBay to sell their piece of Olympic history.

london2012.com/auction is selling 20 torches from participant who donated them to the Olympic Committee after carrying them. The torches were offered to participant at a reduced cost of £199 for them to keep as a momento. The one for sale were declined by the participants or donated by celebrities.

Beckham was the first to carry the torch when it arrives in Great Britain on May 18.

The 2012 London Olympic Games begin July 27.

David Beckham Olympic Torch Sees Huge Auction Bids
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