The 'Ship Repair' analogy for hiring freelancers

Have you heard the 'ship repair' analogy about hiring experts?

I've heard many versions of it, but in short: a ship's engine fails and no one on board can find the problem.

They pull into dock and hire a local expert who has worked on ships his entire life. He has decades of experience and he meticulously inspects the ship from top to bottom. 

As he's nearing the end of his inspection, he pulls out a hammer and hits a pipe. The engine roars to life and returns to normal functioning.

He later bills the ship captain $10,000 for the repair. Shocked by the price, the captain requests an itemised bill.

The bill reads:

Hitting the pipe with a hammer - $1.00

Knowing which pipe to hit - $9,999.00

The moral of the story? The price of a service isn't just about the work itself. If it was, a lot more people would try the DIY approach.

The price includes the years of experience, skills and knowledge of your expert; the convenience and reduced risk of not doing it yourself; the added security of someone with credentials doing it for you; and much, much more.

It's a great reminder for us as customers when we balk at a quote and for freelancers: don't be afraid to charge what you're worth.

Note: I don't know the origin of this story and have seen many versions recycled online so excuse the lack of attribution.