The haggling that goes on over price makes it seem like we are vendors in a bazaars. I think this is more so an issue, when one's work is not well known and I hope that established artists run less into this problem, especially if they are represented by a gallery.
Garth, I agree, the pricing for miniatures definitely does not fit into this pricing structure and has to have it's own.
Michele you are right to say that people must not have experience in buying fine art. I am just amazed how easily people spend their money on anything but art, without even flinching, yet when it comes to a painting, it's like the drawstrings to the purse tighten up.
A while back I saved an Arts and Antiques Article "Face Value", which speaks about the portrait commission process and what clients can expect, when they decide to commission a portrait. It also lists some prices of what professional portrait artist charge. I thought this would be an unbiased source that can act as a comparison for justifying one's fees and I keep it in the back of my portfolio.
I find Richards prices useful and I have come to understand that pricing is a matter of attitude of the artist. Those of us, who under price ourselves still have not learned to value our art for what it is worth. We are still influenced by people's opinions what it should be. I found that being a push over does not help one's objective and just like learning to say "no" one has to learn to say:" If you want cheap, then I know this great photographer down the street who can do it for less." I just haven't learned how to say it with a smile yet!
I just like to see an easy across the board pricing structure, that is fair to both the artist and the client and allows for a little flexibility in the case of exceptions to the norm. I would say Richard's little formula is a good step into that direction, because it offers a parameter of what is considered cheap, midrange or high end. Where we place our work within those ranges should then be determined by the quality of work being produced.