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how to price when selling?

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When selling an item, should I base it on the buy price or the sell price? I'm sorry if this is kind of a stupid question cause I'm quite new to trading. 

I was selling a Haunted Scarecrow for 15 ref which is way cheaper from listed sell price in this site and the guy I was trading said that 15 ref is too much and its should be only 8.33 which is the buy price. 

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15 ref is a decent price compared to the other sellers, the 8 ref price is outdated, and it needs to be raised to reflect what its actually selling for, sometimes you meet people like that when trading.

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