You have to do some math to calculate a price that works for you. First keep all your receipts for your ingredients. Determine how much it cost you to make the cake. If you bought something special and only used 1/2 of it but you can not use the other 1/2 for another cake or in your daily life, factor that in as full price. Then add in gas, electric, water etc.
Then determine how long it took you to decorate the cake and how much you want to pay yourself per hour. Add it all up and I say increase it at least 15% for profit and because you are going to under estimate all of the above in the beginning. You have to really run a variety of numbers to get a good price point for cakes. I use the Cake Boss software and it's the best cake decorating "tool" I own Hope that gets you started.
Don't want to appear rude - but seriously you just need to spend half as much time on THINKING about this than you do on making the cake.
Nobody on here can tell you how much you should charge - what if I said.... oh that cake should be $20 .... would you just accept that and be happy? No, you would probably think ... sheesh is she crazy?
I suspect people ask for assistance because they are trying to get the best (highest) price they can and aren't really confident in knowing just how far they can push it.
But if you don't spend some time calculating for yourself (as you have been advised above) then you run the risk of selling a cake for perhaps less than what cost you
Welcome to the forum! Both of the posts above are correct.
Basically, there is NO way anyone (here or elsewhere) can recommend an appropriate price point for custom cakes. There are FAR too many variables:
geographic location, demographics, specific cost of ingredients, skill level, time, overhead, licensed or un-licensed, etc.
That is a very pretty cake, by the way! My standard response to the "pricing" question is to refer people to a superb article written by a member of this forum, KelleyM.
How much should I charge for my cakes?
Good luck with your hobby! You appear to have the artistic skills, now just work on the business/detail side of cake decorating and gather the information that will help you determine a selling price.