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Vladimir_Golovin comments on $295 bounty for new Singularity Institute logo design (crowd-sourced competition) - Less Wrong
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Comments (91)
Why $295? The 95 trick is supposed to reduce the perceived amount, but this is a bounty, not a price, so it doesn't make any sense. $300 would be a better idea.
The page now says $200, although I wouldn't have thought one could decrease the bounty mid-competition.
The 99designs page says it's a "bronze logo design package purchased for $295 (including 99designs fees)". However, searching that page and 99designs' site, I can't find the actual prize amount or 99designs' fee structure listed anywhere, so I assume that the $95 discrepancy is their cut. This seems rather dishonest on 99designs' part - it's quite reasonable for someone seeing that page to think that $295 was the actual amount of the prize.
It's also the cost to the contest holder, so there's a tradeoff ("Bronze Logo Design package purchased for $295").
The SIAI is not trying to make it seem cheaper to themselves.
Standard selection is between $295, $495 and $695, but they indeed could set an arbitrary custom price, which it looks like they should have.