Thursday, April 3, 2014

How Self-Appointed Experts Rule the Autograph Industry

At his cluttered kitchen table in Myrtle Beach, South Carolina, surrounded by hundreds of trading cards and discarded foil wrappers, Steve Sterpka finally found what he'd been looking for.

The CVS Pharmacy manager had sifted through 15 boxes of Upper Deck baseball cards, hoping to encounter one of the coupons for rare collectibles the company randomly inserted to entice customers. In this case, Sterpka was after the signature of a famous historical figure — George Washington, maybe, or Babe Ruth — that had been paired with a single lock of the person's hair. One collector fortunate enough to score an Abraham Lincoln sold it at auction for $24,000.

The odds were not in Sterpka's favor: Only 10 of the Hair Cut Signatures were available. He'd spent $1,500 to purchase a case of 768 cards. With just 48 remaining, it appeared to be a lost cause.

Then he saw it: a card redeemable for Charles Lindbergh's signature and a strand of the famous aviator's hair.

Oh, my God, he thought. I can't believe what I've got in front of me.

He contacted Upper Deck. The company sent him a 2.5-by-3.5-inch piece of cardboard featuring Lindbergh's scrawl and a follicular sample. The back of the tiny treasure congratulated its new owner:

"You have received a trading card with an [sic] historical strand of Charles Lindbergh's hair that includes an autograph of Charles Lindbergh. The memorabilia was certified to us as belonging to Charles Lindbergh. The cut autograph was independently authenticated by a third party authenticator."

That last bit of language is where Sterpka's problems started.

Today, few autographs are bought or sold without the blessing of either Professional Sports Authenticator (PSA) or its competitor, James Spence Authentication (JSA). The two companies have come to dominate the market, verifying hundreds of thousands of signatures each year.

Business is so good that they use garbage cans to hold the cash they collect from reviews at hobby conventions. EBay, the world's largest facilitator of memorabilia auctions, endorses both companies to its customers. Nothing seems beyond the scope of their expertise, from Frank Sinatra's scrawl to baseballs defaced by Mickey Mantle.

by Jake Rossen, Dallas Observer |  Read more:
Image: Matthew Billington