How Do You Put A Price On Your Art?

I am always impressed by the person who sees the value in art. I could never stand it when someone would walk into an artists booth at a festival and says it's not worth the asking price. I remember as a child, I would sit in my Dad's display tent at an art festival and watch people as they were wowed by his talent. I always felt his work was underpriced. To me, his masterpieces should have cost a fortune. He didn't charge a fortune. He had a respectable yet reasonable price for the average homeowner who liked original work. Maybe it was noble, maybe genius...he did sell a lot of work. I still feel he didn't know how to ask for more. 

One of the hardest things to do as an artist is to price their work. Sure there are methods of figuring out you're asking price, but really what it all comes down to is this...how much is someone willing to pay for it? I just finished a piece (a dragon) that seemed to take forever. I wasn't in a big rush to finish it, but my time is worth a lot to me. Knowing how much time went into it and how my skill has grown over the years, I felt underpricing it would be a crime against myself.  I would rather give it as a gift to someone I love than have someone buy it for far less than it is worth. I opted to put a fair price on it knowing it would only sell to someone who truly had to have it.  My dilemma is not uncommon. Most artists struggle with this task. I have the extra disadvantage of pricing something made from wool. It's not solid, heavy or breakable, so how much could it be worth? Some people can't get past the stuffed animal factor. The difference between a factory made stuffed animal and a needle felted sculpture can be about 20 hours or more depending on size. My sculptures are made of beautiful sheep's wool and naturally dyed. Before I start to cry, I would like to end with this bit of advice...If you are an artist, do not be afraid to consider your works worth and if you are a collector...do not be afraid to pay it.