Frank - one other thing of note. While I can't figure out PSA/DNA's "new" premium item authentication fees that went into effect maybe a year or so ago, I believe that based on the value and number of signatures - that's going to be one expensive piece to authenticate - like around $1000 in fees (please someone correct me if I'm computing this incorrectly). However, if your friend was to consign it - the auction company will most likely bear the authentication costs (REA for example, does).
Something to keep in mind.
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