I'm sorry, I meant to put, what the going rate or what knitters would charge me for piece work etc.
Maria

Hi!
Several years ago, I asked the same question of my LYS to find out how to value items (in this case prayer shawls I had knit) for insurance shipping.
The answer at the time, for my area, was:
a) 2X the value of the yarn.
OR
b) Add value of the yarn (for materials) + $.10-$.12/cents per yard used (for labor). The more complex the pattern, if an original design, etc., go to the higher end of the range.
The first method put my shawls at ~$9.00; the second at ~$50.00.
I have adjusted for inflation over the years and now use $0.12=$0.15/yard.
I am new to the forum and hope and answer isn't too late. Or at least validates what you chose to do.
Monica

I know this topic has come up over the past. If you go up to find you can do a search for this and you will get some useful information.

I don't have any figures for you, but I like Monican's method. A small sweater would be around $120 for labor, which seems reasonable to me.

I had not heard of the yardage charge for figuring for labor. Thanks, people ask me what I charge to knit them any number of things and it is hard to explain what I am charging for. What kind of yardage charge should I use for hand spinning?

Dances, that's a really good question! Considering a small skein of handspun can sell for $30 and up, I think I would still use Monican's formula--that would factor in the higher price for the handspun yarn. (If you're not sure how to price the yarn, why not see what people are charging for comparable yarn on Etsy?)

I have a scale of charges which I send to prospective clients. There is not a simple formula, because each item brings its own demands. There is a great deal of difference between a plain, mindblowing scarf and an intricate heirloom piece with a pattern to be read and sewing-up.

If anyone is interested, I can send send you my list.

What ever you charge, it is most unlikely ever to find clients who can pay sufficient amounts to recompense for your actual time knitting. In the UK there is a National Minimum Wage [£5.60 per hour] and at that price the average hand-knit sweater would cost $500

Have fun, best wishes, John

It's pretty tricky to know what to charge, because it also depends on the economic climate and amount of disposable income(!) in your area. In other words, you could charge more if you live in or near Beverly Hills or Martha's Vineyard then in some small town like I do. Also, do the people you plan to sell to, or charge for some knitting service understand and appreciate what you do? That can make a difference.

When I considered custom knitting some years ago now I realized that there were probably very few people who would pay what even the simplest sweater would cost. I donate knitting to several benefit auctions and to my church on the basis that the buyer provides the yarn and chooses the pattern and then donates at least the cost of the yarn to the organization in question. I figure I'm going to be knitting anyway and someone might as well have the benefit.