How Do You Figure Out What Price To Charge For a Crocheted or Knitted Project?

If you are selling handmade items to make money, then you need to be charging for your supplies and your time. Set a rate of pay for yourself and give a good estimate of the actual time you spent working on your creation. When it comes to selling handmade items, the hardest thing to understand is the buyer's mentality. I was told time and time again that a buyer already assumes you are charging for materials and labor. If the price is too low, they begin to question why. It took me such a long time to get accept that thought process, but as the months go by, I'm finding that the people who love to buy handmade items, think exactly this way. They know there's a cost to buying quality handmade items, but that's why they shop at online handmade sites or go to craft fairs instead of going to WalMart. They don't want mass-produced "stuff", they want a quality handmade item and they already know they have to pay more for it. If you find you have out-priced your items above what the market will bare, you can always have a sale , but it's very hard to raise the price of something that isn't priced correctly.

I always undercharge, it seems. I used to try for three times the cost of the yarn, but that can get way pricey. I'm making a couple of hoodies right now that work up fairly fast, but there's no way I can keep track of my time, since I tend to work a little here and a little there before sitting down for an hour of uninterrupted (if I'm lucky) work.