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When I started out, I did a few commercial jobs, and had them under my belt, was rather pleased with myself. Then asked the clients roughly where i stood in the bidding for the job. He wasn't really supposed to tell me. I was 4 times cheaper than the next lowest bidder. So its definitely a good idea to look into pricing.
I would however recommend doing your overheads (in extreme detail) and working out what YOU need to charge to make the money YOU need/want to earn. If I had carried on at my initial pricing, I would have come to a very quick end. I just didn't do my research/overheads!