That appears to be an "auction LOA." It means that JSA has ostensibly approved the auto, but they want you to pay a fee to slab it or upgrade to a full LOA. PSA/DNA did this same thing until they saw people flipping the autos on eBay with the auction letter (which they never intended and thought wouldn't happen due to a lack of photo connection between item and letter), so now they just say that it's preapproved.
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