These factors are:
1. Experience, skills, and wisdom: A locksmith is commonly bound to charge more if he has done something better than the others. His prices are quite justified as well. He may depend his prices on the prices that are being charged by his competitors.
It may be noted that locksmiths who are more skilled than the rest do the work more swiftly and uses better methods. As a client, you should consider that since the work is completed quickly, the prices charged may also be higher. Efficient, high-quality works are normally pricier.
2. Materials used: Replacing or installing locks obviously requires the locks to be used themselves. He may need you to buy a new lock or provide the material by using his own stock. The locks he may use could be a little pricier than the ones which you can find from the market.
All in all, you will only hire a locksmith’s services only if he is demanding a reasonable price which you are willing to pay as needed by the situation. Thus, a locksmith will normally be careful or thoughtful about the way he demand prices for his services.
During emergency situations, a more humane approach on pricing could bring him a good name and reputation in the industry. If he overcharges at the time, the client may still hire him once just to quickly solve the problem but might not contact him again for future services.