I always get what it cost me to make an item, what I generally don't count on getting is paid for the time it took me to make the item.
I estimate what my materials cost and triple that amount to arrive at a selling price. If it's a really pricey item then I may only double my cost but that depends on how long I've had it in my inventory and the economy.
My philosophy is, you may price your items based on materials cost/time spent and sell one thing but if I price my item based on materials cost and sell lots than I'm way ahead of the game.