By current rate you are asking for $107 and that is quite expansive for a signature design.
LOL. His rate is actually CHEAP already compared to other veteran designers here in this forum. I don't know a thing about graphic design but I know that it's pretty expensive because it's hard and it requires a lot of time, effort, and skill. But of course just a reminder, "you get what you pay for". Veteran designers can provide far more amazing results, but you have to pay the price.