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OC gave an excellent rundown of basic considerations - I will strongly second the advice to collect as much market research as possible, and my go-to pricing guide with any project I feel out of my comfort zone with is the Graphic Artists Guild Handbook to Pricing & Ethics (OC linked to it I believe). You'll get a feel for the spectrum of pricing that a particular project in a particular industry can command, then you can place yourself within that range, using factors like OC listed (your preferred hourly rate x time you think it'll take + materials, what the market will bear, etc). 

As I'm working out the price I will ask for, I also determine a bare minimum that I won't go under - you don't want to start out with this low number, but establish one, should the client come back to you with a counter offer that is significantly lower than original asking price. Try to put yourself in a position where you're prepared for any answer they give, which will give you confidence in potential negotiation. A guide like the GAG handbook will also outline the details of licensing/rights usage, which can be tinkered with to adjust pricing to fit a budget.

*Also good info to have, if you don't already, is what size production run this label will go on. The more units a piece of illustration helps sell, the more valuable it is. ;)

I work with many commercial clients of this nature and I don't ever include the sale of the physical artwork in my estimate, unless the client specifically requests it (hardly anyone ever does). In illustration, the original art is typically a separate sale, though this can also be used as a bargaining chip in negotiation. If this winery has a tasting room, maybe they'd like to display the finished art...

Best of luck to you - I've always wanted to do a wine label myself! I hope you're able to come up with a fair agreement that satisfies all parties. :)

-Natalya

On Jul 10, 2016, at 8:02 AM, Mirka Hokkanen <[log in to unmask]> wrote:

I am writing for pricing help as I barely have any experience since most of the stuff I've done before has been for friends. 

I've been asked for a quote for three fairly simple images that would be used for a company's wine labels. Its through a high end design company catering to small independent companies, with offices in london and sydney, so I don't want to sound like a complete dork on my end. 
I replied that I would be happy to work with them and go ahead and send the information over so I can give them a quote. 

How do you come up with a price with something like that? Im assuming there is some sort of industry average for jobs like that? They have a deadline of 2 weeks to complete it.
 
Thank you for any advice. :)
Mirka 

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