How to price your services

There’s a wonderful story in Ingrid Sischy’s Vanity Fair portrait of Calvin Klein. As a child, Klein used to visit his dad’s grocery store. He noticed that there were grapefruits in two different bins – one lot priced at 29c a pound and one lot priced at 49c a pound. He asked his father what was the difference between them. His father apparently just shrugged and said, “Some people like to pay 29 cents and some people like to pay 49 cents.”