How to price your work

I had a pm from a member and decided the answer might be benificial to others so here it is:

here's an idea:
factor what it costs you to offer a service (equipment costs, labour (your time has got to be worth something) and a profit (not a crime to make some money).
now if you're out there, and you're getting paid do do one job, and time permitts to get the extra images you need to make the second product, then make a sample, show it, ask your price, and let'em decide. six months from now they may call you back.
we got a lot of tight fisted canadians here. (i don't want to bust my ass, cranking out high quality peices for the type of people that might not even appreciate it.) I want the few who know what art is and don't even ask about price.

Truth is, I can't afford my prices. (eight kids, you know).

But just because I can't afford a diamond bracelet, doesn't mean I can't work in a jewelry store and sell them.
If I sold BMW's for a living doesn't mean I should give a $60,000 car away for $16,000, because all I can afford is a toyota.
I charge what it's worth, and wait for the money. That way, I know that eventually, I'll be able to afford to hire me!

Nobody prices their own work - that is an illusion.

The person who prices your work is the customer. If you ask a price that is too high, you won't sell your work. If you price it too low, you'll make less money than you might have done.

As for knowing how much to ask, the secret is to know the market, and not produce anything unless you know in advance what you might get for it.

G