I think that it is worth much more than $125. Even I would pay more than that for it... so Leon's the dealmaster. And I think that the Chief's opinion on there, with initials greatly adds to the value. I think the Chief's opinion on there is worth as much or more as the initials.
But it isn't an autograph. I don't think an autograph requires a full name spelled out in its entirety. It should have all of the last name and at least a first initial with that, but all of the first name and all of the last name is preferable.
So I'm not disparaging of that item... just the use of the term autograph when all that is there of the name is "J. T. M."
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