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Value will depend on a number of factors including what item is signed. Signatures will vary in price based on condition, the type of authenticity that accompanies the signature, the item signed, and how well the item displays the signature. Baseballs are the most common, and preferred by collectors because of it's connection to the game, low cost, availability and it displays the signature well. The signed baseball represents the average price for a signature, and by deducting or adding from this price for the Item signed accordingly will give you a good idea on value.

The lowest priced signed item would be for a "cut Signature." A cut signature is a signature on a piece of paper, or "cut" from a larger piece. Index cards are the next step up, and both sell at a fraction (about 10%-20%) the price of an autographed Baseball. Autograph photos typically sell at about 40-60 percent the price of a baseball with bats, uniform Jersey's and equipment selling at a higher price due to the higher cost of the item, rarity and display.

In general if an autographed baseball is worth $100. the same autograph on a 8x10 photo $50. a cut signature $20. on a bat $150. The percentage of the price could also vary based on the popularity of the player, and how sought after the signature is. Lou Gehrig's signature is fairly scarce unlike his counterpart Babe Ruth who signed often. Both signatures are highly sought after. The signed piece of paper you have would be considered a "cut signature" A Babe Ruth Lou Gehrig Cut Signature is worth about $2,000.- $4,500. Price will vary based on the condition of the paper, the type of authenticity that accompanies the signatures, and the grade of the signatures. The signature should be strong, and bold, as opposed to faded and hard to see. Each signature will be graded on it's own merit. Cut signatures are commonly used for inserts by baseball card companies or framed by collectors to display with a 8x10 photo as you have. This will add value to the item for it's display, and the extra value will be low and vary based on it's appeal. It could add as much as $500. if done right. The bulk of the value will still rely on the signatures. A Babe Ruth, Lou Gehrig duel signed baseball is worth about $15,000. -$30,000. Price will vary based on the type of baseball signed, condition of both the baseball and signatures, and what type of authenticity that accompanies the signatures. Signatures that have not been properly authenticated could sell at half the market value or less.

In an auction held in May of 2007 a pristine example of this duel signed baseball sold for $33,460. and another sold for $26,290. in October 2007 an excellent duel signed Ruth Gehrig baseball signed with the quotation marks around "Babe" that typified his pre-1928 autograph sold for $14,340. Below is a link to a great baseball that sold for about $25,000. The Babe Ruth Autograph signed on the Baseball with the inscription: "I'll Punch Lou in the Nose" and the Lou Gehrig Autograph signed on the Baseball with the inscription: "To my friend Kay from H.L. Gehrig The kid known as Lou" Check it out.

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Q: What is the value of a Lou Gehrig and Babe Ruth autograph that is on a blank paper that is framed with a picture of the duo and is authenticated?
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