I was once told by a former Seattle based executive that the best way for a startup to price their product was to take what they thought it should be worth and then add a couple of zeros to the end.

There's a school of thought that says that you should only achieve a certain percentage of sales. So if you're getting 90% of deals then you might be pricing too low, and if you're not getting anything then obviously too high. But if you're making 10% of sales and your selling for 100x more than your guess at the price then you're likely doing well.