The framed photo has this autograph message across the lower section in black ink:
(exact transcription including punctuation and upper/lower case)
To: RUBY My first love & always a Love From IAN
Ian Fleming's James Bond 007 novels feature fictionalised names of persons and places frequently based upon Fleming's own real-life relationships and experiences.
The romantic interest of James Bond in the novel and film versions of OHMSS is named Ruby (Ruby Windsor in the novel; Ruby Bartlett in the film.)
In the photo background is a sporting trophy -- Ian Fleming was Victor Ludorum at Eton in both 1925 and 1926.
The controversial premature departure of Ian Fleming from Eton allegedly resulted from a forbidden relationship.
This previously unpublished photograph of Ian Fleming is specially notable for his own revealing inscription "My first love & always a Love."