In terms of preservation, I would do nothing to the ball other than keep it out of direct light. The closet seems a good location if you do not wish to display it. The value is really hard to determine without actually seeing the ball. Factors such the clarity of the signatures, type of ball (official or unofficial), yellowing and overall condition of the ball, number of signatures, and presence or absence of key players will determine the amount of money someone would be willing to spend for this ball. Of course, the most important factor is the authenticity of the signatures. There are several reputable companies that will determine that for a fee. A scan of the ball from several different positions would give members of this board a much better idea about its authenticity and value. I would guess that a vintage '55 All-Star ball in nice shape and with most of the key signatures would be valued in the $750-$1500 range.
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