I've been making baby hats for ages now. Mostly I give them as gifts to my friends or family as they add to the family. But people want to buy them and I'm trying to think of a fair price to ask. I'm using the following calculation:
cost of material + labor (based on min. wage) = minimum price
Here's a basic hat in 100% egyptian cotton (modeled by my adorable nephew). I can make 3 hats with 1 skein of this particular yarn and it takes about an hour and a half. So, it'd be $1.75 + $11.25 = $13. I thought maybe I could sell it for $15... opinion?
And the merino wool ones that I'm being asked a price on look like this: http://www.flickr.com/photos/moptopstumptown/249045044/in/photostream/
I can make 2 hats per skein of this particular yarn (80% brushed merino wool, 20% nylon) and it takes about an hour to complete. So, this is at least $4 + $7.50 = $11.50. Is $15 too much?