I've been wearing many of my knitted items due to the cold weather recently and someone always says, "Oh wow...you could make these and sell them!" Now, I know what they really are trying to say is that what I knit is so nice it looks "store bought" (I assume in a nice store...NOT Walmart!). I always have the same response, "No one could afford to buy it." Then I try to explain why...yarn cost (everyone is shocked to hear good sock yarn is $20+), my time knitting, etc. And truthfully, the biggest factor keeping me from knitting for money is the simple fact that it would take all the fun out of it. "Deadlines" and knitting just don't go well together.
So this morning I ran across the most interesting thread on Ravelry along these same lines. The link I'm giving you is her original post on Coriandr which is the UK version of Etsy. She estimated the cost for a pair of stockinette socks to be $325.83. I knit a bit faster than her, so mine would be cheaper...maybe $275.00? Love it!
This is why I don't sell any knitted items, especially socks. BUT I do give away many pairs to people I love. You know who you are!