Maybe I’m too materialistic, but I’ve spent a decent amount of time obsessing over the value of this year’s Olympic gold medals. Last month, we learned that the Olympic gold medals actually feature very little gold. And now, we’ve learned that a gold medal’s value depends entirely on the winner’s home country, according to The Daily Beast.
Let’s say you won an Olympic gold medal in this year’s Summer Olympics. While you might think one athlete’s gold medal is valued the same as another’s, it’s not that simple. The worth depends a lot on the country’s particular medal bonus. For example, the United States Olympic Committee gives a $25,000 medal bonus for a gold medal; meanwhile, Azerbaijan pays $510,000—quite a disparity.
A U.S. Olympic athlete hoping to cash in looks to endorsement deals, not medals. Michael Phelps relies on endorsement deals to make his millions, but some lesser-known medalists aren’t as lucky. Ronda Rousey, a bronze medalist, lived out of her car two years after winning her medal.
And, if Olympians are looking to sell their medals, time is of the essence. According to Mic, medals from more recent games sell higher at auction than their previous counterparts.
