This was helpful for me as well, to read all your replies since I’m pretty new at this. Thanks to all. 
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Thank you Karleen. I thought perhaps this situation occurred frequently, but apparently not! When I was a new painter, many moons ago, I would often gift my artwork to friends and family members, until one day my (very direct) Mom told me that it is never wise to give a gift of artwork unless you know someone really wants it. Turns out she was correct…again. Mom’s alway know…
My policy has always been for flat artwork and for other types of art such as fabric dolls, paper mache, jewelry, etc… that I there are no exchanges or returns. I always state that they should ask questions prior to bidding or purchasing. I’m more than willing to email the interested party larger more detailed photos, etc…
In over 30 years of doing business I’ve never had anyone question my policy. Nor, have I ever had anyone want to do an exchange or ask to return what they purchased.
Hope Everyone’s 2017 Is Starting Out Well.
Funked Up Art
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I guess there’s always an exception and I’m it…doesn’t surprise me, lol.
Thanks Sonja!