For logos, it doesn't seem to matter how much money people offer - you always get the same quality. I've seen $20-$30 contests get just as good entries as $120 contests. You'd think people would put a little more effort into creating a logo for a $120 contest as opposed to a $20 contest - at least I would if I had the time to enter. Wonder why this is...
Since there is a prize and this thing is running as a competition every one would do whatever it takes in order to get the prize, no matter of the prize (120 bucks or $20). Its simple logic, its good that it is working though.
I'm not sure it's that simple. I mean I wouldn't do everything I could to win $20 - especially given the low chance of winning. Now it it were $120 then I'd spend a great deal of time designing high quality logos with multiple samples. That's why I find it odd that quality is relatively constant across all levels of contests. The only exception is there are some people I see only entering the higher value contests. My guess is the people that just submit to all of them have either a) reached their max as far as quality and creativity go, or b) are just lazy and hope to win with a mediocre design.
As it is a contest people dont care of the bucks ...they provide their work and display to get a prize