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This depends on the materials used. Many people assume papier mache is only 'newspaper and flour'. Perhaps in grade school but any artist worth his salt selling a piece will strengthen the his work with wire armatures, tape, white or wood glue, and of course cardboard, paper, fabric or other impregnable fiber that can be easily formed. hen there is finishing which can require sanding, priming, painting/ decorating and applying a UV protective sealant.
The artist must account for labor as well as materials and associated costs. Drying between additional layers is very important and also takes time for completion. Size and complexity are another factor to consider. Even if the materials used are 'cheap' versus comparable sculpture materials, the work involved can be VERY time consuming.
This in mind, paying anywhere from $20 for a small sculpture to several hundred for a detailed sculpture, ornate mask or beautifully painted piece is not unrealistic. There is a family in South America who have been creating life-size papier mache animals for decades. My aunt had a 5 foot tall flamingo she paid over $1000 for...the smaller scale lion family was selling for around $4000. These pieces are smooth like fiberglass because they are sanded before painting. Well worth it considering comparable sculptures of such size would cost much more in materials for the artist to create.
In the end it depends on the artist and your taste. Do research, how are they made and what materials were used? Ask the artist, after all, you are the customer.
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