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The Academy of Manuscript and Autograph, LLC
Estimate Reports are not appraisals nor can there be any
assurance that past auction sales results described herein may
accurately reflect the value of the autograph that is the
subject of the report. The estimate shown in the Estimate
Reports is not an auction or fair market value estimate.
Estimates are not final and could change based on physical
inspection and additional research. Users of these reports are
advised to consult with expert advisors to determine the value
of their autograph objects and the legal and tax consequences of
transactions related thereto.
Academy of
Manuscript and Autograph, LLC
Performance Reports are intended to provide market information
about autographs that has sold in the public auction market.
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accurate, or includes all available auction market data; all
information is subject to change. Although most auction houses
report transactions prices that include a buyer’s premium, some
auction houses report only the hammer price. Based on analysis
of historical auction catalogs, Academy of Manuscript and
Autograph applies a formula to all records with hammer
prices only, to estimate the effect of a buyer’s premium. All
prices in the Academy of Manuscript and Autograph Market
Performance Reports are therefore either reported as, or equated
to, hammer price plus buyer’s premium. Users of the Market
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