In article <4690gc$3iv@epx.cis.umn.edu>, erick078@gold.tc.umn.edu says...
>I recently had a photo published (my first) and as a result, a company
>wants to buy that photo. Is there some kind of a going rate for photos
>or is the value of the photo purely up to me?

I applaud you for posting this question before selling the photo.
Amateurs often jump at the chance to sell a photo (or use of a photo),
and sell too cheap - which hurts pros who must make a living selling
photos, and who have worked long and hard to establish a pricing
structure that allows them to eat, pay the rent, insurance, advertising,
etc, etc, etc. It also hurts the seller, if he/she later wants to do some pro work in the same market (it is hard to raise rates later -
that market may be spoiled for everyone trying to make money in it).
There are two things you can sell (other than your photo services):
a use of a photo, and all rights to a photo. In US law, you own the
copyright as soon as you make the photo (enforcing it is another story).
Photographers usually sell uses, rarely all rights (ownership).
Ask local photographers for advice on pricing in your area (it is
in their interest to help you in pricing, but you and they CANNOT price-fix!). A use will bring a much lower price than an outright sale,
but you can sell uses again. An outright sale requires a written
contract, giving up all rights - otherwise the sale has not occurred
(I believe...). It is hard for beginners to charge enough for their work, but remember, the buyer WANTS your photo, and is probably used
to paying going rates for work they use. (In the small city where I
live, we price somewhat below the American Society of Magazine Photographers rates, but I have made $500-600 over time on use sales
on individual 35mm slides.)
Hope this helps.