Personally I don't see anything wrong with asking for low price. If someone will take the job, then you just got yourself a deal, if not then big deal, no loss in trying.
It's called good business, you take risks, it's how you get rich. Almost every profitable corporation does it.
Those of you who are pissed off are probably just designers afraid that there others out there that will do an equivalent job for a fraction of the cost and take away business.
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