When my Father was diagnosed with Alzheimer's, I sent Ronald Reagan a small print done by Arvil Bethel, called "the Summit." He sent it back, signed to my Dad, To Bob Boyd with Best Wishes Ronald Reagan.
Ronald Reagan, like all modern presidents, used autopens and secretaries to sign correspondence, but this is the type of thing that a secretary might have had Reagan personally sign. A signed photo is worth $400 - $450, and this would fall in the same range.
