If you have ever made anything you know the supplies are not cheap, even if you go to the Dollar Store. Now add your time and it skyrockets. Most of us who are knitters know we will never get paid for our time because a simple scarf may cost hundreds of dollars. No one will pay for that unless they are uber rich and then they are usually very cheap people. I made my mom a pair of fair isle gloves, the yarn was $25 and it took me 40 hours to make. Based on what I made an hour when I worked those gloves would cost over $2000. If I sold them I might get $50 out of them.
The main thing to remember is if someone makes you something it is done with love. You can't put a price tag on love, but don't you dare call it cheap.