The Economics of Knitting

This evening, while having a stitch & bitch with Per and Kris to get a jump on all those handmade Christmas gifts I hope to give this year, I started to think about the economics of knitting.

I am, by no means, a fast knitter*, but I get the job done. I've never timed myself on a project, but I have a pretty good idea of how long it takes me to knit, say, a hat*. I'd guess it takes me between 10 and 15 hours (depending upon how interesting the t.v. show that I am watching happens to be).

If I were to pay myself minimum wage*, I would have to charge between $85 and $130 for a hat, plus materials (probably about $10-$20 in yarn). That's a darn* expensive hat. It's a good thing I do it for the other reasons knitting is good instead of to save money.

Anyway, these economics of knitting are worth keeping in mind when you receive that misshapen sweater from Grams or an ill-fitting stocking cap from a good-intentioned friend. No matter how hideous it might look, at least try it on because someone put a lot of work into it. In fact, that 3 armed turtle neck sweater might be worth $6500.
Sunday December 19 2010File under: holidays, misc

Toggle Comments (2)comment?
on Tue 21st Dec, 2010 02:20 pm PST Ryan said:
I had a booth next to Joe the Knitter at a craft fair this weekend, and would knit a beanie hat in just over an hour, then sold them for $20-$35. In case you were looking for more data for your study.
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on Fri 07th Jan, 2011 07:19 pm PST katie said:
wow, you knit too? nice work!
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