I have done a commision piece recently, as well as ebay, and the only reason I really do it is so that I can \'support\' my hobby.
Myself, I\'ll never get rich doing it, but I do enjoy the paint time as long as it is something that I am interested in, and if it will keep the wife from hollerin\' at me because I spent fifty on some miniatures (whereas now I just have it in a paypal fund that she doesn\'t see, nor really cares to) all the better.
Me, I price them as I think that they are worth at minimum to me. On ebay, if they sell, the sell, if not, I\'ll just let them roll until someone is interested in them or ... not. If they go for the starting price, well, ok, that will work. If they get more, fantastic - keep on biddin\' babbeee!
Not really a big thing really and it provides me a bit of incentive to paint and to try out new things. If your goal is to really make bill money on it though, I figure shoot high and go from there. If they don\'t bite, it wasn\'t worth your time.