It depends largely on how prolific a signer the person in question was...
In the case of Aaron, Mays, Musial, Berra (or someone like that) prices would rise about 25 - 30% for a short while, and a flood of autos would hit ebay in the subsequent days after the player's passing. Unfortunately, dozens of dealers/collectors would attempt to capitalize on the player's death.
After about a month, prices would come back down, and settle in perhaps 10 - 15% higher than before. If the player in question was NOT a prolific signer (which does not apply to many HOFers these days), then the prices might settle in higher.
This has been my experience, and has applied to recently deceased players like Williams, DiMaggio, Mathews, Reese, Rizzuto, Spahn, Wilhelm, etc. It applies to top-tier HOFers as well as marginal ones. Mantle has gone up by a greater percentage, but there's a "stigma" attached to him (which does not apply to many others).
Eager to hear what others say, and hope this is helpful...
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