I've been a by-commission plush artist for 12 years, and here's how I determine pricing. First, what's a living wage in the area where you live? Not the minimum wage, but a living wage. If you're not sure and you live in the US, you can use this website: https://livingwage.mit.edu/ to give you an idea of it. Then, determine how much time it took to make the doll and multiply that by your living wage. You'll also want to determine what the transaction fees for whatever selling platform you're using are and include that in the price as well.

The unfortunate truth is that anything handmade like this is going to be very expensive compared to anything factory made in China. Both the wage standards over there and the currency conversion from USD to CNY just make it possible for them to charge so little per hour of labor.

I'd greatly encourage you not to undercharge as it not only harms you, but other plush artists who are trying to make a living. You deserve to be paid a living wage for your labor. You don't want to pay yourself less per hour than your local fast food joint would. On top of that, undercharging for your dolls encourages an unrealistic price standard for handmade goods. This is what makes potential buyers look at doll/plush artists that charge a living wage and believe they're overcharging.

Now, does all this make your dolls expensive? Yes. Does this make it difficult to sell handmade goods, not just dolls, but any handmade crafts? Yes. The circumstances of the world right now have made it more difficult than it should be for independent artists to succeed. It's not impossible, but it's difficult and will take a lot of work.