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I've got a very basic question regarding the payment of VFX work. Mainly I work for an advertising agency, so I usually don't sell vfx. However I got a request to do something I'm showing on my vimeo page. What would be an appropriate pricing for such scenes? Probably a bit more elaborated. 




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There are two basic  approaches, based on you/client expectations ... service vs contract. Service is a day rate, contract is delivery of product (ie. image sequence). For each, calculate how many days you expect to spend in order to meet expectations. If you do not have a specific and detailed brief, make that part one of the contract, after which the following work can be calculated. Don't forget to define number of iterations (ie. how many change requests and in what order the client can make before these become payment-required change orders). Also don't forget office costs (broadband, tel, space, etc), hardware/software maintenance, insurance and a percentual safety buffer.
As you are working on the basis of an existing asset, you also have to decide what the value of that asset is. How much adaption is required? How do you want to deal with assets generally going forward?
Then arrange payment in 3 segments, 1st off the bat, 2nd after sign-off on all variables (ie. on basis of a playblast documenting time length, feel, etc.) and then the third upon delivery of final - and depending on client relationship with an initially watermarked version.

Have fun. And don't underestimate how much sway a client expectation can have.

PS. love the motorboat wake!

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