I had a situation where it's actually suspicious because I think the buyer did hang it on their wall paying far less than the cost of a print, by getting around the Personal Use restrictions and purchasing a Presentation Use license instead. Here's what happened:

I had two sales on the same day of landscapes taken in the same state park. The first is RF so it was licensed for Personal Use, which makes perfect sense.

The second, however, is RM and specifically not permitted to be sold for Personal Use. It was licensed for Presentation Use at the same $20 price.

No way I can prove that the buyer, being unable to obtain a Personal Use license for the 2nd image, got around the restriction by purchasing a Presentation Use license instead, but the timing is certainly suspicious. I actually sold a print of that same image a week before on FAA so the price difference is particularly galling, but  I doubt Alamy will tell me if both were licensed to the same buyer. Even then, there's no way to prove they hung both images on their wall.

 I really hate that the first license that shows up is either for Personal Use or for Presentation Use if your image is restricted. Lazy buyers won't go past clicking on the $20 full image size download. By substituting the Presentation license in place of PU, restricting RM images is basically useless and a lazy buyer could have simply assumed they were getting the same license for both images, i.e. the $20 deal.