Profit and Price Hike

 Someone in Lipstick Alley shared additional interesting insight regarding Alexandra Grant's quilt auction. Her blue quilt was made in 2016 according to her website, but on the auction site, the year 2020 is used.

The blue quilt was priced at $3000 in 2016 and was never sold and it was still the same price in January 2020. In May, the Home Goods items on GrantLove had 3 items: this blue quilt and two left-over towels

In June, the black and the pink quilt were added to the Home Good items. Blue = $6000 (from $3000). Black = $6500. Pink = $6000


The price increase and "new" items seem to coincide with the Bemis auction's schedule.

As covered before, in October, the price list was:
Blue = $6500 (from $6000)
Black = $8000 (from $6500)
Pink = $6000

If she donated that old blue quilt at $3000, the Buy-It-Now price = 150% of $3000 = $4500.
The artist can earn 50% of $4500 = $2250.

But this is the narcissist with shady financial clarity, so... The pink quilt of $6000 is donated first. Buy-It-Now price = $9000, so the artist can earn $4500.

It was suspicious that the quilt was quickly sold at the Buy-It-Now price. Look at the auction term: If your work is sold prior to the last day of bidding at the Buy-It-Now price, Bemise may request a replacement piece which opens the opportunity to submit another piece.

The blue quilt of $6500 is now donated. Buy-It-Now price = $9750, so the artist can earn $4875


Instead of the $2250 for the initial blue quilt price, the artist is now able to earn a total of $4500 + $4875 = $9375, all by changing the retail price to whatever price the grandiose mind of the narcissist is at.

And of course, there is a pop-up store accompanying her upcoming art show to sell more overstock items which can't be 'donated' for exorbitant prices.

grantLOVE x Orange County Museum of Art fund & pop-up shop