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davidcyclebackWhether it's for Baseball Magazine or Vogue, photos used to make images in magazines will often have various production marks, shading, outlines, etc. One nice thing about these types of markings and 'enhancements' is that they show that the photo was the actual original art for a magazine photo. How they effect the sale price will depend (severity, etc), but they are a legitimate part of the photo and were originally put on there by the magazine.
They sell for what they sell for. Sounds lke a cop out, but that's my honest line. If the images and photos are nice, you won't have any trouble getting fair coin for your Ruth, Johnson or Gehrig. And the Jimmie Foxx, Paul Thompson of Magee, etc aren't chopped liver either. Check eBay if you want to compare prices.
Each photo is rare to unique, and the price will depend on a variety of factors. A 1909 photo of Johnson in Senators uniform will sell for a lot more than a 1940 photo of Johnson in overalls. Image clarity, artistic value, etc are an integral part of the value, as photos can be works of art. Without seeing with your eyes, it's simply impossible to valuate a "Photo of Babe Ruth."