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davidcyclebackI would say listing provance is legitimate when it legitimately raises financial value, it helps prove authenticity (a Yankees team signed ball came from the estate of a Yankees coach) or the provenance is famous (card belonged to Joe DiMaggio or Jesse Owens). The latter two would raise financial value.
Sheen owned a lot of significant art and memorabilia, and documenting that the painting or jersey belonged to Sheen would be a wise idea and likely raise value. I know Sheen owned some original Andy Warhol paintings and, at resale, it would help to show a painting belonged to a well known Hollywood actor with the means to afford it. If only because the potential buyer might ask, "Where'd you get this?"
I'm not as bothered as others by added provenance on a card holder, though agree with many that the 'Mr. X' was stupid. It added no information or support to the card. A label of 'Carl Jones, my nextdoor neighbor who traded with me' would be of more substance.