Buying autographs? Watch out for fakes!
How much is a famous signature worth? Can you trust the certificate of authenticity? Here's how to make sure your autograph investment pays off.
Your better half's birthday is coming up, and you come across the perfect gift on an online auction site: an autographed photo of his or her favorite movie star or baseball player. And what a bargain! Only $15 plus shipping, with a certificate of authenticity. What do you have to lose?
Try $15 and your shipping costs.
Chances are, if it's a megawatt star, authentic signatures will sell high. You aren't going to get an original signed Hank Aaron or Barbra Streisand for a pittance.
What about the certificate of authenticity -- doesn't that mean the item is genuine? Anyone can certify a signature, but only a true expert can authenticate a signature. Joe Orlando, the president of PSA/DNA Authentication Services, says it's vital to have the signature authenticated by a third party.
"If I say the item's authentic and grade it on quality and I'm the seller, there's a problem," Orlando says.
PSA, which stands for Professional Sports Authenticator, specializes in sports signatures. Orlando says some signatures, such as a good quality Babe Ruth single-signed baseball, can fetch upward of $100,000 -- out of reach for the average collector. But collectors can still pick up good items that will increase in value for a very small investment.
Autograph collectors who want assurance their signatures are the real deal have few options. The most reliable way to obtain an autograph is in person. But this requires a different type of investment: time.
When celebrities make personal appearances, they sometimes sign books they've authored, posters, photos and other memorabilia. Some charge for this service; others do not. Alternatively, a collector can hope to catch the celebrity at a premiere or after a game in an unofficial moment.
Another method is to purchase items that have been examined and authenticated by a reputable and knowledgeable third party such as PSA. But even knowledgeable authenticators will occasionally be wrong.
"It's always a leap of faith, especially when you're buying vintage material," Orlando says. "Remember, where's there's greed, there's fraud."
The thrill of it all
Movie and TV critic Jane Louise Boursaw says she has about 100 autographs in her personal collection. Boursaw collects some of them by mail but warns that writing and asking for an autograph doesn't necessarily net a real one. "You don't always know if the signature is authentic," Boursaw says.
She classifies her collection as a hobby, and a fun one at that, and says her favorites include Melanie Griffith, Doris Day and Tom Selleck -- "because he writes 'Jane Louise, Best wishes, Tom Selleck.' How could you not love that?"
Boursaw finds mailing addresses on the Internet through collectors' sites and drops the stars a nice note with her requests, along with self-addressed, stamped envelopes for the photographs.
Celebrities -- from actors to U.S. presidents to sports figures -- are busy people. Most don't have time to sign autographs for admirers. Some satisfy the demand for autographs with autopens, proxies and preprinted signatures.
When he receives a photo request, actor Mark Hamill, like many celebrities, will send one with a pre-printed autograph, but he's stopped signing new ones. It's easy to see why. Run a search of Hamill's name on eBay at almost any time and you'll find dozens of pricey listings: movie posters with the "signatures" of the entire cast of the "Star Wars" trilogy, props "signed" by Hamill and dozens of other items. On his Web site, he debunks the authenticity of most offerings.
"It saddens me to see the majority of signatures purported to be mine are fraudulent, along with bogus certificates of authenticity, to further dupe the unsuspecting collector," Hamill says. But, he adds, "I simply do not have the time, money or wherewithal to stop the avalanche of fake autographs."
Here's what to do
Autograph collecting attracts a huge following, making it a lucrative investment strategy. Experts say, though, that a collector who's chasing profit won't be as successful as one who's driven by passion.
Potential collectors can now search online for once hard-to-locate signatures. But while finding your favorite's autograph may be easier, it's also much more likely you'll shell out for a bogus one.
Six years ago, a special task force formed by the FBI to investigate autograph forgeries placed the value of celebrity and sports frauds at a half-billion dollars and growing. Today it's estimated that anywhere from 80% to 90% of autographs, including historical ones, are phony.
That doesn't mean everyone who sells a fake autograph is a crook, although there are plenty out there. For those who sell and buy autographs through online auctions such as eBay, it's sometimes a matter of not knowing enough about a person's autograph to distinguish the real McCoy from the fake.
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."
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.
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.
Your better half's birthday is coming up, and you come across the perfect gift on an online auction site: an autographed photo of his or her favorite movie star or baseball player. And what a bargain! Only $15 plus shipping, with a certificate of authenticity. What do you have to lose?
Try $15 and your shipping costs.
Chances are, if it's a megawatt star, authentic signatures will sell high. You aren't going to get an original signed Hank Aaron or Barbra Streisand for a pittance.
What about the certificate of authenticity -- doesn't that mean the item is genuine? Anyone can certify a signature, but only a true expert can authenticate a signature. Joe Orlando, the president of PSA/DNA Authentication Services, says it's vital to have the signature authenticated by a third party.
"If I say the item's authentic and grade it on quality and I'm the seller, there's a problem," Orlando says.
PSA, which stands for Professional Sports Authenticator, specializes in sports signatures. Orlando says some signatures, such as a good quality Babe Ruth single-signed baseball, can fetch upward of $100,000 -- out of reach for the average collector. But collectors can still pick up good items that will increase in value for a very small investment.
Autograph collectors who want assurance their signatures are the real deal have few options. The most reliable way to obtain an autograph is in person. But this requires a different type of investment: time.
When celebrities make personal appearances, they sometimes sign books they've authored, posters, photos and other memorabilia. Some charge for this service; others do not. Alternatively, a collector can hope to catch the celebrity at a premiere or after a game in an unofficial moment.
Another method is to purchase items that have been examined and authenticated by a reputable and knowledgeable third party such as PSA. But even knowledgeable authenticators will occasionally be wrong.
"It's always a leap of faith, especially when you're buying vintage material," Orlando says. "Remember, where's there's greed, there's fraud."
The thrill of it all
Movie and TV critic Jane Louise Boursaw says she has about 100 autographs in her personal collection. Boursaw collects some of them by mail but warns that writing and asking for an autograph doesn't necessarily net a real one. "You don't always know if the signature is authentic," Boursaw says.
She classifies her collection as a hobby, and a fun one at that, and says her favorites include Melanie Griffith, Doris Day and Tom Selleck -- "because he writes 'Jane Louise, Best wishes, Tom Selleck.' How could you not love that?"
Boursaw finds mailing addresses on the Internet through collectors' sites and drops the stars a nice note with her requests, along with self-addressed, stamped envelopes for the photographs.
Celebrities -- from actors to U.S. presidents to sports figures -- are busy people. Most don't have time to sign autographs for admirers. Some satisfy the demand for autographs with autopens, proxies and preprinted signatures.
When he receives a photo request, actor Mark Hamill, like many celebrities, will send one with a pre-printed autograph, but he's stopped signing new ones. It's easy to see why. Run a search of Hamill's name on eBay at almost any time and you'll find dozens of pricey listings: movie posters with the "signatures" of the entire cast of the "Star Wars" trilogy, props "signed" by Hamill and dozens of other items. On his Web site, he debunks the authenticity of most offerings.
"It saddens me to see the majority of signatures purported to be mine are fraudulent, along with bogus certificates of authenticity, to further dupe the unsuspecting collector," Hamill says. But, he adds, "I simply do not have the time, money or wherewithal to stop the avalanche of fake autographs."
Here's what to do
Autograph collecting attracts a huge following, making it a lucrative investment strategy. Experts say, though, that a collector who's chasing profit won't be as successful as one who's driven by passion.
Potential collectors can now search online for once hard-to-locate signatures. But while finding your favorite's autograph may be easier, it's also much more likely you'll shell out for a bogus one.
Six years ago, a special task force formed by the FBI to investigate autograph forgeries placed the value of celebrity and sports frauds at a half-billion dollars and growing. Today it's estimated that anywhere from 80% to 90% of autographs, including historical ones, are phony.
That doesn't mean everyone who sells a fake autograph is a crook, although there are plenty out there. For those who sell and buy autographs through online auctions such as eBay, it's sometimes a matter of not knowing enough about a person's autograph to distinguish the real McCoy from the fake.
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."
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.
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.
posted by Authentic1 at 2:07 AM
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