Watch Out for Fake Olympic Memorabilia

THE 2008 BEIJING SUMMER OLYMPICS will be remembered for many reasons, including the spectacular opening ceremony and U.S. swimmer Michael Phelps's winning more gold medals than any other Olympian ever.

A few months from now we may also discover that the Beijing games were known for a vast array of counterfeit items. Indeed, before the games even started, there were news reports of fake ticket sales online and seizures of knock-off Olympic merchandise by the Chinese police. How many copy-cat souvenirs went undiscovered remains unknown.

Counterfeit Olympic souvenirs and collectibles are nothing new — starting about 30 years ago, opportunists began churning out knock-offs. Fake winners' medals and torches have been peddled to those with an untrained eye for decades, says Jonathan Becker, co-author of "The Unauthorized Guide to Olympic Pins & Memorabilia." What's different this time is that the games are being held in a place that's notorious for its knock-offs. "It's well documented that China is the leading manufacturer of counterfeit goods in the world," says Jeffrey Hardy, the coordinator for the Business Action to Stop Counterfeiting and Piracy (BASCAP), an initiative by the International Chamber of Commerce. So it's hard to believe that a country that manufactures everything from pirated DVDs to phony prescription medications wouldn't have shady entrepreneurs exploiting the Beijing games for all they're worth.

The most common counterfeit items fans are likely to encounter are pins, T-shirts, hats and team jackets. Consumers should assume that anything they see for sale on the streets (in the U.S. or China) is fake, says Ethan Horwitz, an intellectual property attorney based in New York City. Ironically, since the Chinese government is cracking down on knock-off Olympic goods, it's likely that more of the unofficial booty will end up on U.S. shores away from the Beijing police.

What doesn't end up in some back alley will likely sell on sites like eBay (EBAY). While surfing the auction site we found a few "official" Ralph Lauren (RL) items, including the Olympic Games Rings Polos that were selling for a fraction of the retail price. It's difficult to know for sure what's real and what isn't, but screaming bargains tend to be a tell-tale sign of a forgery, says Horwitz. (A spokesman for Ralph Lauren didn't get back to SmartMoney.com with advice on how to tell a genuine Polo from a copy.)

So what can consumers do if they want authentic Olympic souvenirs? One place to shop confidently is at an authorized Olympic store in Beijing. In the U.S., fans can purchase legitimate items on official web sites. At the NBC web site, for example, one can find everything from exclusive collectible pins to official Nike clothing. Those looking for the bona fide Polos can find them at the Ralph Lauren online store. And if basketball fans are searching for genuine jerseys, they should check out the United Stated Olympics Committee web site.

Since there are many reputable memorabilia dealers on eBay, it would be a mistake to skip the site entirely. Just make sure to remain a bit skeptical of deals that seem too good to be true. Karen Bard, a spokeswoman for eBay, says the company is constantly on the lookout for counterfeit items and takes down any auction that involves something fake. But an item can always slip through. So Bard also recommends buyers email a seller with any questions he may have regarding authenticity. As a backup, look for folks who accept PayPal and offer PayPal Buyer Protection. Products that qualify could be eligible for up to $2,000 of buyer protection.

Finally, for those fans looking for true memorabilia — think gold medals and Olympic diplomas — stick to the few well-known and respected specialty auction sites, including Ingrid O'Neil Sports & Olympic Memorabilia and Coubertin.com. While you probably won't find any huge bargains, you'll at least have the peace of mind that you got the real deal.