Well, you have gotten a lot of good responses to this question.
I will just say this: Don't forget the cost of your time. Even if you don't charge for your time in your work like or you consider your spare time to be "free", the value of a rocket, to me, is how many hours (and days waiting for stuff to dry) I had to put into it.
So, if I had to put 16 hours, total, into making a rocket, and then had to spend about week waiting for everything to dry before I unveiled the final, finished paint job, the rocket has a lot of value to me. I can't put it into dollars and cents. I really don't want to lose the rocket because I spent a lot of time making it and getting it to look good. So I will often improve the recovery system with a longer shock cord and a nylon parachute.
But, let's assume your time is free. Let's see. I bought an E-SAM 58 at Hobby Lobby...
Rocket Kit: $12.99
Paint (base color): $4.28
Paint (second color): $4.28
Primer: $4.28
Nice 18" nylon parachute from Apogee Components: $7.49
Piece of 100 pound kevlar and some 1/4 inch elastic to replace the shock cord: $1.50
Shop Supplies: This is the cost of tools needed to build the rocket as well as the cost of "expendables", such as masking tape, wood filler, sandpaper, paper towels, glue, hobby knife, hobby knife blade, snap swivels, pencils, fin jog, body tube marking gizmo, plastic bags to hold stuff, launch pad, launch controller, launch rod, batteries for launch controller, etc. Only a small part of each of these supplies in my "parts bin" and only a small part of the total cost of purchasing the tools in my "tool box" are really needed for this one rocket. The parts and tools will be used on dozens of other rockets. Let's be conservative and call it $3.00, total, in shop supplies. That might be a little low.
Subtotal: $37.82
Don't forget sales tax (or shipping costs) on all of that stuff, above. Let's low-ball it at 7 percent: $2.65
Subtotal with tax: $40.47 (to build the rocket that only cost you, initially, $12.99 at Hobby Lobby, without tax)
Do you want to count the cost of flame proof wadding and engines? You can't fully enjoy the rocket without 'em! I can get some B6-4's and C6-5's from AC Supply Company. They sell the bulk pack of 24 B6-4's for $43.79 (that is $1.83 per B6-4). They sell the C6-5's in a bulk pack of 24 for $50.99 (that is $2.13 per engine). Let's also assume, just to keep costs down, that I submit an order for over $100 to AC Supply Company and they give me the free shipping deal. Yay!
Each B6-4 launch costs $1.83
Each C6-5 launch costs $2.12
Let's say the cost of the recovery wadding is $0.05 per launch.
Let's say I launch it a total of 8 times with B6-4's and 4 times with C6-5's before I lose it in the weeds, the rocket crashes and can't be repaired, or I just get bored with it.
That is 8 times $1.83: $14.64
That is 4 times $2.13: $8.52
And 12 times $.05 for the recovery wadding: $.60
Total Cost to Launch the Rocket 12 Times: $23.76
Add that to the total cost to build the rocket of $40.47 and you get a total cost of rocket ownership of:
$64.19
But the rocket only set you back $12.99.
Still, how else can you spend $64.19 and have THIS MUCH TOTAL FUN? No way, now how. Model rocketry is your best hobby enjoyment value!
I will just say this: Don't forget the cost of your time. Even if you don't charge for your time in your work like or you consider your spare time to be "free", the value of a rocket, to me, is how many hours (and days waiting for stuff to dry) I had to put into it.
So, if I had to put 16 hours, total, into making a rocket, and then had to spend about week waiting for everything to dry before I unveiled the final, finished paint job, the rocket has a lot of value to me. I can't put it into dollars and cents. I really don't want to lose the rocket because I spent a lot of time making it and getting it to look good. So I will often improve the recovery system with a longer shock cord and a nylon parachute.
But, let's assume your time is free. Let's see. I bought an E-SAM 58 at Hobby Lobby...
Rocket Kit: $12.99
Paint (base color): $4.28
Paint (second color): $4.28
Primer: $4.28
Nice 18" nylon parachute from Apogee Components: $7.49
Piece of 100 pound kevlar and some 1/4 inch elastic to replace the shock cord: $1.50
Shop Supplies: This is the cost of tools needed to build the rocket as well as the cost of "expendables", such as masking tape, wood filler, sandpaper, paper towels, glue, hobby knife, hobby knife blade, snap swivels, pencils, fin jog, body tube marking gizmo, plastic bags to hold stuff, launch pad, launch controller, launch rod, batteries for launch controller, etc. Only a small part of each of these supplies in my "parts bin" and only a small part of the total cost of purchasing the tools in my "tool box" are really needed for this one rocket. The parts and tools will be used on dozens of other rockets. Let's be conservative and call it $3.00, total, in shop supplies. That might be a little low.
Subtotal: $37.82
Don't forget sales tax (or shipping costs) on all of that stuff, above. Let's low-ball it at 7 percent: $2.65
Subtotal with tax: $40.47 (to build the rocket that only cost you, initially, $12.99 at Hobby Lobby, without tax)
Do you want to count the cost of flame proof wadding and engines? You can't fully enjoy the rocket without 'em! I can get some B6-4's and C6-5's from AC Supply Company. They sell the bulk pack of 24 B6-4's for $43.79 (that is $1.83 per B6-4). They sell the C6-5's in a bulk pack of 24 for $50.99 (that is $2.13 per engine). Let's also assume, just to keep costs down, that I submit an order for over $100 to AC Supply Company and they give me the free shipping deal. Yay!
Each B6-4 launch costs $1.83
Each C6-5 launch costs $2.12
Let's say the cost of the recovery wadding is $0.05 per launch.
Let's say I launch it a total of 8 times with B6-4's and 4 times with C6-5's before I lose it in the weeds, the rocket crashes and can't be repaired, or I just get bored with it.
That is 8 times $1.83: $14.64
That is 4 times $2.13: $8.52
And 12 times $.05 for the recovery wadding: $.60
Total Cost to Launch the Rocket 12 Times: $23.76
Add that to the total cost to build the rocket of $40.47 and you get a total cost of rocket ownership of:
$64.19
But the rocket only set you back $12.99.
Still, how else can you spend $64.19 and have THIS MUCH TOTAL FUN? No way, now how. Model rocketry is your best hobby enjoyment value!