Achievements of the Signer
The value of any signature is based first and foremost on how well-known and distinguished the signer was/is in their field. bMickey Mantle was a Golden Glove winner, an MVP and Triple Crown recipient among many other achievements and awards. This makes his signature that of a world-renowned athlete of singular talent.
Signer: Alive or Dead?
If a celebrity signer has passed away, their signed paraphernalia become exponentially more valuable, as there is now a limited supply of them. Mickey Mantle passed away on August 13, 1995, and as such his autographed memorabilia has steadily increased in value since that day.
What Was Signed?
Depending on what the inimitable Mr. Mantle signed, the piece of memorabilia has a different value. For example, an autographed baseball that has been authenticated by the Upper Deck Company (world-recognized authority on signature authentication) is worth between $600-$800, whereas a similarly authenticated Mickey Mantle jersey can be worth up to $7,500.
How Was It Signed?
If Mickey Mantle signed something only his autograph, it's worth more as a collectible than if he personalized it with something like "To Mark," since the personalization makes it a confusing artifact for anyone not named "Mark." On the other hand, if Mantle signed it with both his name and something like the date, or perhaps the acronym of the stadium he was playing in that day, the signature gains in value significantly as the artifact becomes both unique and able to be owned by anyone despite the uniqueness.
Number of Available Signatures
The fewer signatures a deceased athlete gave out, the more each signature is worth on its own. Mickey Mantle gave out few signatures relative to superstars like Babe Ruth, so his signatures are of a similar value; a less-famous athlete, true, but one who gave out fewer autographs.
Check Emotion at the Door
One factor that never, ever figures into how valuable an athlete's signature is is the holder or buyer's personal feelings towards the athlete themselves, or the team they played for. Never let a collector get away with bargaining for your Mickey Mantle autograph with an argument along the lines of, "Well, Mantle didn't really deserve all the press he got, he wasn't that good ... plus, the Yankees really stunk back then." Opinions do not figure into the practical value of an artifact.