£1 for the new favicon, £584 for knowing how to do it.
1) Draw crappy icon in any of the zillion free icon editors out there (e.g. IconEdit32).
2) Name the file 'favicon.ico' and upload it to the root directory of the website.
I have a feeling I should be doing consulting in the UK or something.
Not as easy as it sounds.
I say that because I remember it taking me only a few minutes to go from knowing nothing whatsoever about them to making my own.
If I tell a designer to create the front page of a feature-packed, online store where every tiny decision has a significant impact on sales figures, and the process has to be run past (and work for) countless people within the organisation - no one is doing that in under an hour!
In this case, there's every chance that the actual decision making process was "resize logo or part of logo to fit a small square", but there's also a chance that other options were considered, a couple of meetings were held to get it approved, etc.