My Crochet Bath Set and the Search for Pricing Formula
I am in love with my newest creation, my crocheted bath set. The bath set includes: 1-bath puffy, 1-bath mitt(fits average adult hand), 1-bath fizzy bag, 1-washcloth and 2-facial scrubbies. It is made of 80% cotton and 20% merino wool which is a great exfoliator. I made one smaller version of this set for myself (because I loved it and wanted to give the yarn a test run) and I have to say it works great!
Now here comes my dilemma, I don't know how to price it. Most crafter I talk to say use the 3x formula where you add up all your supplies and multiply that by 3, add in to pay yourself for your time and that is your listing price. That is what my item is basically listed for now I bought the yarn for $9 and used the whole skein on this project, multiplied by 3=$27 and added $3 for all the time I put into it(about 10 hours over the course of 2 days). When I put feelers out there on the price I was told that it was too high and now I feel like I should drop the price but I really don't want to because of the time and effort I put into it. So I am standing my ground at my current price because it is quality work and I stand by my work!