Collectible autographs are worth a lot |
| By Carole Moore • Bankrate.com |
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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 percent to 90 percent 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.
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| The going price for famous signatures |
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| John D. Rockefeller | | | The president and founder of Standard Oil Company, John D. Rockefeller was among this country's wealthiest tycoons at the turn of the 20th century. Rockefeller's bold signature, with its elongated f and tall double-l's is most typically found on old stock certificates. This particular example of Rockefeller's handwriting, on a Standard Oil document, dates from 1892. The businessman was born in 1839 and lived to the ripe age of 97. Courtesy of the Museum of American Finance, NYC |
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Ink,
deception and murder
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, 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, 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 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." | 
