Thank you for contacting Mearto with your appraisal inquiry. Based on the photographs and description provided, the subject of this appraisal is a non-authenticated signed photograph of US President Grover Cleveland inscribed "To James (Illegible) July 3, 1886." Based on known examples of Cleveland's signature, the style is consistent and the piece is presumed authentic for the purposes of establishing the value range within this appraisal, conditional upon examination and verification of its authenticity by a reputable third-party authentication service such as PSA or JSA.

According to the current owner, the piece was acquired via inheritance. The piece and signature appears to be in good to excellent condition.

In November 2020, six separate Cleveland autographs were sold via Heritage Auctions and they serve as comparables for this appraisal's purposes. The price ranges of the pieces fell between $228 and $412.50. In consideration of the factors noted, a Fair Market Value (pre-auction estimate) of this piece conditional upon signature verification by a third-party authentication service would be estimated at $225 and $425.