Like their winter predecessors in Vancouver a couple of years ago, organizers of the 2012 Summer Games are selling off Olympic memorabilia to help pay for bringing the games to London.
The "Official Sporting Memorabilia website of the London 2012 Olympic and Paralympic Games" has been busy with hundreds of items on the block and some already sold. The London organizing committee is using a company called Innovative Sports to manage sales.
The most popular item so far among current items up for bid is a game used ball from the United States gold medal victory over Spain on Sunday. The ball had a high bid of over $4,749 as of Sunday night. Bidding was set to close Monday afternoon. A rim and net from the game are also being sold with the net (or "netting" as they call it) at $2,828 and the rim at $1,583.
Olympic torches, Games-used gear, signed memorabilia from past and present games, Opening Ceremony costumes and other items are up for bid.
During the 2010 Winter Olympics, Vancouver took its auction to eBay, where fans bid on thousands of items over several weeks.
The London Games auction site has some historical pieces mixed in. A bronze medal from the 1904 St. Louis Olympics had been bid up to $31, 347 as of Sunday night while a torch from the 1948 Games, also in London, stood at $22,000.
Not everything is quite so pricey. The high bid on the placard carried in front of Angola's Olympic contingent as they marched into the stadium during the Opening Ceremonies was just $54.86.
To check out the auction, click here. eBay has been full of Olympic listings as well including a jersey purported to have been worn by Michael Jordan during the 1984 Olympics. It sold on eBay last week for $35,000.