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First of all, are you comfortable with the idea of your picture appearing in a dancewear catalog? If not, don't do it no matter what the pay.
If you enjoy the idea of modelling, then negotiating appropriate payment is part of making the deal work. The dancewear company won't be able to sell the used items you model, so giving them to you isn't really very generous. Your time is worth something, as is the loss of your privacy. One of the reasons the company is interested in hiring a dancer instead of a model is that you know the classic positions. Unless you want to do the modelling just for the experience, I would ask for money, dance clothes, and copies of the pictures.[/i]