Instructions
Get your memorabilia graded. The grading process is where a professional service looks over your collectibles and gives you an impartial, third party report on its condition. A graded item, even if not necessarily in the best condition, will typically sell for a higher price than an ungraded item in the same condition.
Get your memorabilia authenticated (see References). The authentication process should be done by a professional service, just like with grading. Authentication is particularly useful if you're planning on selling anything with an autograph. These services will verify if the autograph is genuine.
Use a price guide. Price guides are books that are published (typically annually) that are used to track the value of collectibles. Sports memorabilia price guides are sold at most bookstores and are available for a range of different types of collectibles, like baseball cards or even autographed balls and bats.
Check eBay for auctions featuring collectibles similar to the ones you are trying to sell. This is simply a way to get an indication of what people are willing to pay for particular items. You can see which auctions have a lot of bidders and adjust your price accordingly. You'll also see auctions that have no bidders and know not to approach the price that its sellers had set.
Call a sports memorabilia store. This can give you an indication of how much the store would sell the same item for. If you're lucky, you also may get an offer to purchase that collectible.
Go to a sports memorabilia convention. Some guides will list upcoming events, and local newspapers may list conventions held at places like local fairgrounds. Going to these conventions can give you a good, real-time indication of the prices that people are actually paying for items similar to the ones you are trying to sell.