Thanks again for all this information! You will be further shocked.
No, I'm a part-time portrait photographer and have not done product photography before. I had no idea how to price out the shoot (hence my return to the forum.)
The client was adamant that he wanted to shoot for 90 minutes, and wanted 35 images for his use. He wanted RAW files, not edited jpegs, and he wanted full rights.
He also was hoping for the shoot to take place THIS Friday. Which actually isn't a huge problem. He was going to bring the product to me, and I have a studio in my home. It was going be on white infinity, no models.
In my extremely limited research I noticed that people were either charging by the hour (read up a few posts where one person says he charges $250/hr with FULL rights ) or per image - and in my area I was seeing prices ranging from $10 - all the way to $40 per image (the $40.00 was an online service.) But nowhere did I see prices for rights - and it's the rights that confused me the most. He wanted full rights.
Believe me, I know enough that I was vastly aware my quote was super low.
Kicker: The quoted price above was shot down.
The client, "Your bid is a bit richer than others I have obtained...your hourly rate is only a little higher but others don't have a per file fee or a limit to files (I capped mine at his estimated 35).
He asked me if I had any flexibility. I responded, "I think I will pass on this shoot. Thanks for considering my bid, and I am sure you will find a photographer who will be able to supply your needs within your budget".
Really? This guy found someone to give him what he wanted at LESS than the already horrendously underpriced quote than I gave him.