How to price products for a shop?

Hello! I'm planning to open an Etsy shop soon. As I was creating a shop outline, I began to realize that I'm not very good at pricing products. My focus for now is needle felting. If you don't know what needle felting is, please look it up before you answer my question. I could explain but it is best to... show more Hello! I'm planning to open an Etsy shop soon. As I was creating a shop outline, I began to realize that I'm not very good at pricing products. My focus for now is needle felting. If you don't know what needle felting is, please look it up before you answer my question. I could explain but it is best to see it for yourself. I want to make little figures, like most of the needle felt shops. Initially, my prices were quite low for a needle felted figure, which I only realized when I saw how much most people charge on Etsy. Wool can add up, as well as glass eyes, and since I'm doing everything myself, I was wondering if that should contribute to my prices. Needle felting is a time consuming activity but the end result is so worth it. From what I can tell, most figures sell on average for maybe $35 more or less. Of course, that depends on how detailed the figure is. Some sell for like $20 while others sell for $50+ and can even go up in the hundreds. Any advice on how I can price my products properly? Here's what I think I should take into account: they're handmade, cost of wool and glass eyes, and how long it takes to make each figure.
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