class="rtejustify"> KANSAS CITY, MO—A recent appraisal of an autographed picture of former Kansas City Chiefs quarterback Elvis Grbac was met with disappointment after the photograph was valued for much less than what its owner had expected it was worth. Rick Cummings, who purchased the signed photograph back in 1998 for the sum of $45, was expecting what he describes as “a piece of Kansas City history” to now be worth around $350, but Chris Pike, owner of the Touchdownz Sports Collectibles, informed Cummings the memorabilia's value was only about $15.

“To say I was disappointed would be an understatement,” said Cummings. “The guy has been out of the game for a decade now, so I expected the value to skyrocket. That’s the thing about investments, though. You have good years and bad years. I guess with the economy the way it is, the demand for a signed photograph of Elvis Grbac is less than normal, but $15?” asked Cummings incredulously, “That’s insulting.”

Cummings said he’ll hang onto to the signed photo until “the market rebounds” and he can get “a fair price for this rare...