I wanted to answer some questions several collectors had regarding auction pricing. When I price a piece for online auction, I usually try to ensure I'm covering all of my material costs as well as making a small profit. The price I decide upon is the lowest I can possibly sell the painting for. This allows for an attractive price and some room in case there are several bids.
I also don't believe in using a reserve price,where the auction might show $49.00 but will not sell unless you bid $200! It defeats the purpose of the auction. The price you see is how much you pay.
I'd also like to add that after the auctions end,the pieces are usually priced 2 or 3 times more.
Tuesday, October 26, 2010
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