June 12, 2018

There’s no such thing as a fair price

In the U.S., we often use the term “fair price”.

This creates a problem because the word “fair” means “in accordance with the rules”.

Saying “fair price” implies that there’s some objective third party - i.e., other than buyer and seller - who has defined pricing rules that buyers and sellers must adhere to.

There are no rules for pricing.

When we say “fair price” what we really mean is “acceptable price”.

Saying “acceptable price” recognizes that there is no rule book or referee or judge. One party presents a price, and the other party decides if it’s acceptable. It’s completely subjective.



P.S. Are you tired of competing on price against every other freelancer? You might want to consider reading my new book, The Freelancer’s Roadmap.

P.P.S. For more on “fair” prices, read this and this.