Thank you for contacting Mearto with your appraisal inquiry. Based on the photographs and description provided, this item is a framed set of memorabilia commemorating the second NBA title of the Houston Rockets, won in the 1994-1995 NBA season. The collection includes ten Fleer Ultra basketball cards of Rockets players, but is highlighted by two pieces: an unauthenticated Hakeem Olajuwon-autographed photo of the Larry O'Brien Championship Trophy with the current owner of the piece (Olajuwon not pictured) and a first generation photograph (presumed from the original negative taken by Smiley N. Pool) of the primary photo for a Houston Chronicle special edition printing commemorating the title (a print of the Chronicle piece is included in the documentation of the piece establishing its provenance).

Based on actual sales of authenticated, signed Olajuwon pieces at auction and based on actual auction sales of first generation photographs from major newspapers related to basketball in this era, the Fair Market Value (a pre-auction estimate) of the piece conditional upon autograph authentication by a reputable third-party would be estimated at $300 to $400. The value of the photograph itself is estimated at $100 to $200.