What to look out for when buying signed goods

Posted by Sophie Regester in Personal Finance on 9 December 2016 - Sophie is a Senior Credit Analyst at checkmyfile.

Sports memorabilia is big business. The shorts Muhammad Ali wore in his 1963 bout with Henry Cooper sold for £70,000 in a recent auction. Those fans with slightly shallower pockets can also have a slice of the action but there are a lot of pitfalls out there for the unwary.

Any idea, product or service that brings in cash will be a target for the unscrupulous, who may want to capitalise on people’s desires and dreams by quickly scribbling on a football shirt and charging an inflated price under the guise of a famous name.

You may expect these sort of tricks from a bargain basement store or an online auction site where sellers can list what they like (to a degree) but even big auction houses can be fooled and allow the fake goods to go under their hammers and into someone’s man cave. With Christmas just around the corner, you may be looking for that illusive extra special present for someone who has everything and if the person you are shopping for is a big sports fan a signed item from their favourite golfer, jockey or cyclist may seem to be the ideal gift. Though you should be cautious, you shouldn’t need to rule this gift idea out completely, there are several clues to look out for.

Firstly do your homework, have a basic impression of the sport star, what their signature vaguely looks like and if they are no longer alive and kicking, when they passed away. A careless mistake made by a forger may be to have a fake copyright on the back of the signed picture, if this is dated after the individual passed away then it’s sure to be a fake. The old adage of if it seems too good to be true it probably is and also the one that says you get what you pay for should both be considered when making a memorabilia purchase.

If the item you are bidding on has a low price when compared to other similar goods you should be asking yourself why? Maybe everyone else knows something you don’t and maybe the seller is has only spent £3 on the marker pen and print out of a picture from Google images, so they figure any money they make is a bonus and they don’t need to aim high.

Be savvy and know what the item is worth to you before you commit. If you dive in and the goods are a dud you may be protected by PayPal or your credit card provider and if you purchased through an auction house you will typically have a year to raise a grievance - good luck out there sports fans!

Check Your Multi-Agency Credit Report

30 Day Free Trial

How interest rates are calculated

If you’ve ever applied for a form of credit, you may well have discovered to your cost that the advertised APR and the interest rate you’re offered if you are accepted can be very different things.

Published on 14 Jun 2019 by Richard Catlin

Full Article

The Importance of Proving Stability to Lenders

In addition to the key roles that your Credit History and Affordability play in determining whether or not you will be accepted for credit, we regularly talk about the importance of being able to demonstrate your ‘stability’ to potential lenders.

Published on 15 Mar 2019 by Sophie Regester

Full Article

If I Change My Name Can I Still Get Credit?

Legally changing your name is an increasingly popular thing to do in the UK: while getting married or divorced still makes up a large proportion of this, there is a growing trend towards people changing their name following civil partnerships, a change in gender, living in blended families, or simply because they’re seeking a change – the list is long.

Published on 22 Feb 2019 by Tom Magor

Full Article

Which Credit Report Information Can Landlords See

These days whenever you rent a property you may be required to pass checks set by the landlord or letting agent to prove that you will be a good tenant and that you’ll be able to reliably make rent payments to the property on time.

Published on 7 Feb 2019 by Kevin Pearce

Full Article

What Credit Checks Look For When You Switch Energy

As we get deeper into Winter, it’s inevitable that millions of consumers across the UK will end up using more energy and spending more on bills due to the colder weather and long stretches of darkness.

Published on 9 Jan 2019 by Jamie Mackenzie Smith

Full Article

Pros and cons of going paperless

Whether you are environmentally motivated or simply to get a discount for moving your billing online, you might find it makes sense to abandon paper for your business, if you haven’t already.

Published on 7 Dec 2018 by Kevin Pearce

Full Article

How To Get The Best Car Finance Deals

New car sales may have slowed in recent years, with the economy, emissions scandals and Millennials all being cited as the root cause at one point or another. But the number of people choosing to use credit as a means of driving away in a new car continues to rise, according to figures from the Finance & Leasing Association which shows that the new car finance market grew by 15% in July 2018 when compared to the previous year.

Published on 8 Oct 2018 by Kiah Phillips

Full Article

We're Now More Likely To Be Borrowers Than Savers

UK Households are now more likely to be borrowers than savers, with savings at their lowest since 1963, according to a study by the Office for National Statistics. Households are increasingly borrowing more – by taking out loans, car finance, and mortgages – than they are collectively depositing into savings accounts.

Published on 5 Oct 2018 by Sam Griffin

Full Article

The Credit Crunch 10 Years On: What’s Changed?

For many people, especially the those lucky enough to not have been old enough to be directly affected, the economic downturn of 2007-2009 seems like a distant memory. The first iPhone had launched a mere two months before the recession hit, and since then they’ve rebooted the Spiderman film franchise not once, but twice. But more importantly, has enough time passed for the borrowing/lending market to revert to its old tricks?

Published on 26 Sep 2018 by Jamie Mackenzie Smith

Full Article

The Limitation Act 1980 and Debt Time limits

The majority of credit consumers believe that once a debt has been acquired, that debt will remain until the full balance has been cleared regardless of the length of time passed. This may not be the case though, thanks to a little-known piece of legislation known as the Limitation Act 1980.

Published on 19 Sep 2018 by Erika Bone

Full Article
keyboard_arrow_left

keyboard_arrow_right

We are rated number 1 for customer service on