So, due to current events, do you think my Inkworks Smallville Allison Mack autograph card will increase or decrease in value ?

Well, if she's convicted she's doing life in prison so I think you have yourself a collectible there.

I wouldn't want a collectible that bad, I don't think.

I don't think it will matter if she gets convicted or not. When was the last time you heard her name mentioned before this? She is a minor actress best known for an old TV show. Not exactly in big demand to start with, so any bump in interest now will be short lived.

Its like when a celebrity dies. Yes their autograph cards go up a bit right after because of the death bounce. The idea is that there is now a finite number of signatures available, which is true. However if there was only minimal demand for that celebrity's autograph while he/she was alive, any increase in demand will fade as fast it came. After a couple of years people don't even remember if they are dead or not. Any premium is gone and the autograph card returns to whatever it was.

Death and bad news makes a difference to the value of star signatures that already have good demand. Minor names like Allison Mack don't turn into gems, short of marrying Prince Harry of course.