The path and file name of an image is queried or changed using the ImageFile property. The path set by this property is the actual path where AutoCAD looks for the image.
If AutoCAD cannot locate the drawing (for example, if you have moved the file to a different directory than the one saved with the ImageFile property), it removes relative or absolute path information from the name (for example, \images\tree.tga or c:\my project\images\tree.tga becomes tree.tga) and searches the paths you have defined using the SetProjectFilePath method on the Preferences object. If the drawing is not located in the paths, it attempts the first search path again.
You can remove the path from the file name or specify a relative path by resetting the ImageFile property.
Changing the path in the ImageFile property does not affect the project files' search-path settings.