New photographers entering the industry today (and not necessarily young photographers) have been given the impression that in order to succeed as a professional photographer, they must keep their prices low to compete with others and be chosen over the "over priced" competitors who have been in business much longer than them. News flash: There may be a correlation between those who have been in business much longer and them having higher prices - they know the value of their work and by charging adequate, get rid of any time wasters. What is worse is when a sale is undercut from you right before your very eyes. You will be in discussion with a client and along comes some punk with a camera and offers it for a fraction of the price at a dime per hour or even worse, for free!