The term “autograph collecting” might evoke images of tattered notebooks, lively crowds outside movie premieres, and bustling conventions. However, for some, including Hollywood director Judd Apatow, it is a devoted lifelong interest. It’s a passion that can lead to autographs fetching millions of dollars in the market.

Nathan Raab, president of Raab Collection, a Pennsylvania-based auction house specializing in historical documents and autographs, clarifies, “‘Historical documents’ is a broad descriptor encompassing a variety of items we trade. Autographs are essentially the signatures on many of these documents, while cut signatures refer to autographs that have been separated from the original documents.” Autographs can be found not just on paper but on various memorabilia, including photographs and sports equipment. Recently, a baseball from Babe Ruth’s first home run in the inaugural All-Star Game in 1933, signed by the legendary player, sold for a staggering $805,000, equivalent to about £650,000 at the time.

The tradition of collecting signatures dates back to ancient Rome, where Pliny the Elder famously gathered documents penned by notable figures. By the 16th century, the practice evolved into the creation of the album amicorum, or “book of friends,” allowing individuals to collect signatures, notes, and drawings from acquaintances, thereby showcasing their social circles. One notable example is an exquisitely illustrated album compiled by merchant and diplomat Philipp Hainhofer, featuring the signatures of prominent figures like Cosimo II de’ Medici and Holy Roman Emperor Rudolf II. The Victorians further popularized autograph collecting, establishing a market that began auctioning signed documents.

In 2021, Raab unearthed a rare 20th-century version of an album amicorum, containing over 60,000 signatures compiled by Croatian traveler Josef Mikulec during a global journey of more than 200,000 miles. Originally, a Croatian publishing group promised Mikulec $10,000 to complete this trek within five years. Each signature in the album was from someone Mikulec had personally met, including six US presidents and two British monarchs. The album is currently priced at $275,000 (£225,000).

Adam Andrusier’s autograph journey began in childhood as he developed an obsession with famous personalities. He recalls, “I wrote to them, sought them out, and eventually began purchasing autographs from dealers and auctions.” A contemporary of author Zadie Smith, Andrusier’s passion contributed to her 2002 novel, “The Autograph Man.” Today, he specializes in selling autographs and historical documents after ceasing his own collection. Among his unique sales was a signed wager for one dollar by renowned physicist Stephen Hawking.

Experts emphasize that aspiring collectors should center their collections around areas of genuine interest such as film, sports, history, or art. Collectors come from diverse backgrounds, ranging from professionals to farmers, all drawn to the personal significance behind their collections. Andrusier recounts selling a drawing by John Lennon to Yoko Ono, illustrating the connection autographs can foster. However, enthusiasts must also be cautious, as the emotional investment can lead some to overpay for autographs that may later decrease in resale value. For instance, a baseball hit by Mark McGwire during his record 70th home run in 1998 sold for $3 million but is now valued at only a fraction of that amount.

Despite the risks, autographs can represent substantial investments. Andrusier notes that during times of economic uncertainty, the autograph market tends to remain robust. Raab adds that the digital age has made locating specific autographs easier, leading to increased competition for historically significant names such as Abraham Lincoln and Winston Churchill.

The most sought-after autographs include those of iconic figures like Einstein, Churchill, and Gandhi. Raab highlights Julius Caesar as a notable rarity in the collecting world. Some suggest that the rise of selfies may contribute to a decline in autograph demand, with fans favoring photographs over signatures. Ironically, this could benefit the autograph market over time by limiting available signed items and potentially driving up prices.

However, the presence of forgeries poses a significant challenge in the autograph collecting world. High-profile scandals involving counterfeit autographs of celebrities like Muhammad Ali and Kobe Bryant have raised concerns. In 2022, musician Bob Dylan publicly apologized after using an autopen—a signature machine—under health constraints for signing books advertised as handwritten. Autopens have long been utilized by public figures, exacerbating authenticity issues. Experts advise collectors to familiarize themselves with known facsimiles and machine-signed items.

Both Raab and Andrusier stress the importance of experience in discerning genuine signatures from replicas or forgeries. Raab emphasizes, “Many collectors are impressed by authenticity certificates without knowing the issuer’s credibility. Gaining this expertise can require years of observation and practice with authentic signatures.” As such, new collectors are encouraged to purchase from reputable dealers and consult established institutions in the field. Locations like Argosy Book Store in New York cater to collectors with diverse budgets and needs.

Once new collectors become engrossed, it’s challenging to quit. The thrill of discovering that next coveted item is always near. Andrusier humorously remarks, “If I still collected, I’d never sell anything!”