The comic above makes a solid point -
A brilliant design can come with a single stroke of a pen or a 100 hours of struggle and pain.
The balance in pricing lies in the predicted # of hours worked, the # hours of experience in the field, a arbitrarily calculated value of the logo to the company, and the max allocated budget for the project from the client's viewpoint.
One of the most important considerations for logo design is the color palette. This is not a superficial decision, color carries meanings and communicates ideas.
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