You may have already seen this; but just in case, I will include it here:
"Edgar ***** *****teg (April 13,***** Louis, Illinois – February 7, 1953 Papeete, Tahiti) was an American painter often considered the father of American velvet painting. He became a French citizen after immigrating to French Polynesia in 1933, where he spent the rest of his life painting the local life on black velvet."
When assessing an artist's work, appraisers must look at sales of works by the same artist. Art gallery sales prices are private.
We must then go to auction sales prices which are public. When using comparable work by the same artist, medium, subject matter and size are factors to be considered.
Appraisers most often use price per square inch of previously sold comparable works by the same artist as a measure of value.
Using this standard method, I was able to determine an auction value of $1050 assuming an important frame and excellent condition.
A private seller to a dealer or at auction can expect 30-60% of retail value.
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