Another quality Ebay item, with a very unusual signature but I suppose it is what you should expect from someone who dies 16 years before they signed the book.

http://cgi.ebay.co.uk/THE-HOBBIT-J-R- ... ZWDVWQQrdZ1QQcmdZViewItem

The usual request please report to Ebay, they only seem to do anything about these if a few people complain.

EDIT: I looked at it again and it could be signed by John Tolkien I suppose in which case it may be genuine, are examples of his signature anywhere on the Internet to compare with, I only have examples of Christopher and Michael's signature.