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Pretty much with logo design you can either a) hold a contest with a set prize, designers submit designs and you choose a winner or b) have people bid out their design work and you pick who you want to work with based on portfolio and price and are locked in to working with that designer on the finished product.
Wanting someone to make an investment of their time w/o a set prize and no guarantee you will pay anyone just isn't an appealing offer to most, if not all, people in this industry.
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