Making the decision to start selling your handmade goods, and artwork can be stressful. Where do you sell, who is your target audience, do I make a website, HOW MUCH DO I CHARGE!?!?!??! That last one is an issue even experienced sellers can have issues with. It can become very difficult to price your items, and make sure you are selling them for what they are worth, at the same time paying YOURSELF what YOU are worth. So Wenchkin came up with a pretty easy way to go about this difficult task.
Since I have mainly been addressing ponies I will pull a pony listing then rip it apart from there to explain how I got there. So for instance let's take this http://www.artfire.com/ext/shop/product_view/3827288
One Day of the Dead Pony, 40 bucks
pony cost: 1 buck
paint cost: 1 buck
clear coat: 1 buck
It took me two days to finish due to paint drying times which I do not charge for but actual paint time it took me 8 hours of actual paint time to get two layers of basecoat, block out the bones, add in the color and clean up the line work
So say I am only charging 5 bucks an hour (which is way under minimum wage), then I have already come up with my 40 bucks.
But I am not done yet
I still need to spend another hour of labor photgraphing and listing
and I have not counted shipping materials, i.e. box, packing, tape.
So basically, in my mind I am giving you a cut-rate deal for me to be able to do what I love. I could charge more. I try to keep my prices reasonable for my fans.
Also with all of this said and done it never hurts to surf the competition to see what other people are selling equivalent items for. With that I have seen a lot of new people base their pricing off of other people's pricing when the items were not of the same quality. Just because I can get 40 bucks for a pony does not mean you might be able to if you are new and starting out. I have kicked out over 100 ponies now and my skill has increased.
Lastly, I hope this is maybe a little eye-opener for the people that have to ask why hand made is so expensive. Being asked that makes me want to raise my prices as this is my full time job and I do a good job and i know it. I would never go to someone else's job and say you are overpaid, it is rude. I am asking a bare minimum for what I provide - most artisans do, when you think about the time it took them to create any given item.
You can find more of Wenchkin on her Facebook page, or over on G+.