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Serious collectors make sure their autographs meet high standards upfront, but that doesn't mean lower-end collectors can't also weigh the authenticity of their purchases. That's important, given the value some autographs reach in resale.
Autograph collecting may seem as pulse-pounding as knitting, but it can be steeped in deception and intrigue, as in the case of antiques dealer Mark Hofmann. In the 1980s Hofmann started a chain of events that eventually led to two murders and the unmasking of one of the most successful and skilled forgers in American history.
Hofmann, a lapsed member of the Mormon church who lived in Salt Lake City, sold a number of pricey historical forgeries to the leaders of The Church of Jesus Christ of Latter-day Saints and private clients. Among his most successful forgeries: a "new" poem attributed to Emily Dickinson that was later declared fraudulent.
When Hofmann ran into financial difficulties, he tried to extricate himself by killing two people. His plot was unmasked when a bomb he had been constructing exploded, wounding him. In a subsequent investigation, police discovered his forgery materials, and Hofmann received recognition for what he was, a very proficient forger.
Ironically, Hofmann's forgeries became collectible as a result of his notoriety. Hofmann was convicted of murder and is serving life in prison, but his forgeries live on, as does the suspicion that anything he sold might be a forgery.
Famous signatures: Good investments?
Rex Hall, the author of a book about early Russian space efforts and a fellow of the British Interplanetary Society, is an expert on astronaut and cosmonaut signatures. Hall says few people start collecting autographs for the investment value."It started as a hobby for many but has turned into an investment opportunity," Hall says. "The difficulty is understanding what is rare or unusual."
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Value lies in the rare and unusual. A single-signed Babe Ruth baseball (a ball with just his signature on it is worth more than one with multiple signatures), an early Beatles album with all four autographs and Thomas Jefferson's letters are all worth more than their weights in gold.
And those scribbled signatures from the unknown band playing at the local club? Their John Hancocks have potential value. Signatures from such once-struggling artists as James Dean, The Beatles and Jimi Hendrix are worth thousands today.
Kenneth Rendell, an author who also deals in historical autographs, doesn't sell Jessica Simpson's scrawl but does handle the signatures of Frank Sinatra, Jim Morrison and Abraham Lincoln. The late Malcolm Forbes, a dedicated collector, was among Rendell's clients.
"I sold him a letter (written by Thomas Jefferson) for $25,000," Rendell says. "It later sold for $800,000."
Forbes' collection made a "staggering profit" after the death of the wealthy businessman. But Rendell says the reason Forbes' collection was so valuable was because Forbes didn't collect to make a profit.
Rendell says successful collectors "bring an enthusiasm to it, an enjoyment that shows." Because they're so ardent about what they do, their collections sell well down the road.
"I've been in it 50 years, and the people who bought with passion did extremely well because their investments are interesting to other people. Those who are more mechanical about it do not do as well," Rendell says.
As an example, Rendell points to his own wife, who has always been interested in the unfortunate Queen Marie Antoinette of France and has purchased both letters by the queen and books from her library.
"I couldn't say it was a good investment 20 years ago," he says. But not only have her items appreciated in value, Rendell believes the recently released movie about Marie Antoinette's life will spark new interest in the guillotined monarch.
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Every collector has one signature that's at the top of his or her wish list. For movie and TV critic Boursaw, it's Katharine Hepburn. Babe Ruth, says PSA's Orlando, is "the single most desirable" signature in the world.
Whose signature will one day be the equivalent of an Elvis or a George Washington? It's hard to tell, says Rendell.
"Today, people don't know who Arnold Bennett was," he says, "but at one time he was one of the most popular writers in the world."
Bennett, the Stephen King of his day, isn't in much demand as far as autographs go. However, there is little doubt his signature would have been more prized at the turn of the 20th century than a fellow writer whose published books were sold alongside Bennett's. The other writer, a fellow named Winston Churchill, was a total unknown.
This article was reported and written by Carole Moore for Bankrate.com.
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