Well, here we go................since this is what I do for a living!!!! I worked retail for 26 yrs and also did buying for these stores that I worked for, therefore knowing a little about pricing. Not much, but a little!!
When I price an item that I make, I usually consider the price of the fabric only, then times that by 2 or 3 the amount. These are for my small items such as table runners, totebags,small lap quilts etc. The big quilts that I do, I take into consideration the pattern that I will be doing and consider my time. Thats the hard part because people just don't understand the time to make these. But every year before Christmas, I have at least 1 or 2 queen size quilts that I will have to get done, and they sure make for some good spending money at Christmas! I use my gut feeling on these. Its the hardest thing I have to do.
I do buy alot of my fabric on sale and use Joanns mostly for these types of items. Plus I have to consider the area that I live in. Makes a big difference. People won't spend alot aroung here. Check out my ebay store and you can see how I price some things. Hope this helped a little.