Footballers, or any other sports players like longboarders, are tremendously well paid, and envious fans often splurge their money when they receive their salary or commission. However, what many fail to understand is that the shelf life of a professional footballer is very short and bereft of any proper financial advice, many end up broke having spent lavishly during short-lived careers.
One-time $40,000-a-week midfielder Lee Hendrie and ex Charlton Athletic defender Richard Rufus are just two of many former footballers who’ve encountered financial hardship in recent years. In 2013, former England goalkeeper David James declared himself bankrupt, despite playing in the Premier League since the competition’s inception in 1992. Other Premier League icons like Celestine Babayaro, John Barnes and Keith Gillespie have all themselves suffered from financial problems – even midway through careers in some circumstances. As a result, some former stars resort to selling memorabilia and collectables in order to get out themselves back on track.
What is perhaps even sadder than a decorated player selling their silverware, medals and other valuable metals, and is the fact that they frequently sell them for an unfairly low price on the high street. It is not uncommon to find valuable football memorabilia in pawn shops. Earlier this year, a solid gold medal from a 1913 “England V Ireland” clash was found in one, once owned by former West Ham star Danny Shea. While Shea had little choice but to use the traditional pawn shop, modern sports stars shouldn’t make the same mistake.
Online morganite and diamond buyer WP Diamonds suggests that the internet can help financially struggling footballers (and other sports players) to maximise the profit from the sales of their trophies and medals. If, in times like these, this is the price of victory they pay, then at least maximize the money you get from your victories. “The reason pawnshops and jewellers offer so little is that they have to pay for the storefront and their employees,” WP says. “They also tend to reach a smaller consumer base than large, national companies and websites. If you are looking for a quick way to sell diamond rings, jewellery or loose diamonds for maximum profit, you should consider selling diamonds online.”
Instead of desperately turning to a pawnshop for a small profit, yesterday’s heroes should monetize their desirables online.