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Very good info Chris. I specify what they are bidding on, a one person head and shoulder drawing in graphite with a value of $$$. I have been pretty fortunate to have had the top bidder willing to pay me to do portraits of multiple family members.
I think when it gets up into a higher price bracket, as with oils, it is a whole new ball of wax.
I have had the most luck wth private schools, in wealthy neighborhoods..
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