Couple of observations.
1) Pro/am: I am / was a photographer. In the space of a few months, the business I'd spent years building up collapsed because of amateurs with financially supportive partners/generous pension/ regular income muscling in to make a little extra on the side. I've not forgotten what it was like to be a hobbyist and the thrill of someone actually liking your work enough to pay for it and when I was young it was a profitable sideline to my regular job. I was under no illusions though, I was getting the clients who couldn't afford the prices charged by our town's full time pros. One of them was ex-army, organised wedding group shots like he was still drilling squaddies on a parade ground but he was unquestionably a brilliant photographer. Neither he nor our other established pro considered me a threat as my pocket money customers were of no interest to them. Perhaps through necessity, I'm a firm believer in the adage that states many a mickle maks a muckle!
2) Valuation: When getting into woodwork, the boss drew my attention to something that was essentially three small pieces of wood knocked together at an eye-watering price. It became my first project. To be honest, for all its simplicity, the final result was rough as a bear's bum but she loved its "rustic" quality and continues to use it on a near daily basis. Her parents liked it too so I was 'commissioned' to make one for them too. That one was better because I'd learnt a bit from the first one although three years on there's still no hint of the "We'll pay for your time and materials". Then the sister wanted one, again with the offer of payment for materials. The brother-in-law runs a construction company so I suggested rather than payment perhaps we could swop for a piece of plexiglass. Apparently this was an outrageous suggestion and what I received instead was a pack of beer, the cost of which didn't even cover the price of the board of wood used. That put me off making things for others and I never did drink the beer, served it up to him next time they visited with one arm as long as the other.
On the flipside, my neighbours have a little girl and we usually buy her a small gift for birthdays, xmas etc. I was looking for something suitable for this xmas, I had an idea in mind but couldn't find anything that came close and what was out there looked cheap while being hellish expensive so I decided to make something. Not sure labour of love covers the process exactly, perhaps a bit more Magnus Magnusson ("I've started so I'll finish!"). Some aspects of it worked out well, some not as well as I'd hoped and it was touch and go as to whether or not I'd give it to them or if the mkii version would join the prototype in the kindling box. The boss said to give it and I'm glad now I did it. Late on Christmas night I received a very nice thank you note from the child's mother, saying the girl loved it and they were blown away by the thought and effort that went into making it. They're back now and the mum collared me in the workshop again yesterday to reiterate the thanks, the little girl full of teethy smiles. When asked if it had taken long to produce I had to admit that it had. Wouldn't have done if I was a better woodworker, had a plan to work to instead of making it up as I went along and no doubt if I was to do another it would be quicker and better because of lessons learnt from first two. Quick enough to make one for a sensible price? Probably not but to me their reaction to it is priceless.