Pricing is something I struggle with. I sell on Etsy. I spent a lot of time looking at what other sellers on Etsy were making, how much they were selling, and what their price points were when I set up my shop. I then took an objective look at what I was making and the quality I was capable of and set my prices to reflect that level of work.
What venue are you selling in? It makes a difference. The same item in a high end gallery will bring more money than at a flea market. I wanted to do online sales. It's what works best for me. I chose Etsy because it's big, it's known and it doesn't have the same degree of cheap overseas goods and bargain hunters as Ebay (I do see some).
Be realistic about what you're making. I'm not doing high end work. I don't get to charge high end prices. My work is more in the good daily user range so I price my work in that range. I think I'm close. I sell a cane every few weeks. Is it a living? No. I would have to make and sell a cane a day to even come close.
The rate of sales? Looking at other sellers on Etsy it's about normal for my price point and quality of work. I'm hitting my goals for sales.
All sales are a competition. To get that sale over the other guy you have to offer something the other guy doesn't. Some get involved in a race to the bottom on prices. Don't bother competing there. Look instead at unique products, niche markets, etc. What I did instead of lowering my prices is I offer what I think is a better designed product than others in the same price range.