Setting the price of a handmade pencil sketch involves considering several factors to ensure it’s fair to both the artist and the customers. Here are the factors that determine the right prices:

1. Time and Effort: The hours spent on sketching, including any revisions or research.
2. Materials: The cost of high-quality pencils, paper, erasers, and other art supplies.
3. Skill Level: The experience and expertise as an artist, which can impact the value of art work.
4. Market Research: Similar sketches sold by other artists to get an idea of the prevailing prices.
5. Uniqueness: If your sketches have a distinctive style or are personalized, you can justify higher prices.
6. Overhead: Included any additional expenses like packaging and shipping.
7. Profit Margin: Artist’s reasonable profit margin that makes his efforts worthwhile.