I generally research to understand the going price and go by that.
Especially so in your case since you’re learning and can’t judge
your time, and you don’t have a cost basis for your material.
A truism I learned years ago in business is to understand what the
market will bear, and figure out a way to make a profit at that
price. As opposed to charging too much more because one’s slower,
hasn’t figured out how to buy at discounts etc. Or conversely,
someone (like a casual hobbyist) who doesn’t value their time, gets
material for free, or has free help, and therefore undercharges. You
really can’t go wrong by researching the market. If a unique item,
you can still find something comparable to compare. Real estate
agents do this all the time. Just remember to do your research where
you plan to sell (just like the real estate agent).
Another thing I learned, this time in retail, is that you price
(specifically, raise prices) according to replacement value. If you
sell a hammer, you need to replace it on the shelf. If you priced
and sold it according to last year’s price, after you spend that
hammer’s profit on payroll, utilities, rent, etc. you might not have
enough money to buy a new one. Extrapolate that to every item in the
store, and you’re out of business. So for your material, pretend you
just bought it at whatever price you find on the internet. Why
should your savings on material go to the customer? It should go in