Curious to know how other people are selling yarn, I moseyed on over to eBay. I found balls of yarn selling there for $16.99, by a seller out of Shanghai. That means the seller is saying he paid 102 RMB per ball, or much less than that since he would’ve bought wholesale. That is crazy, not for the kind of yarn that was so priced. I’ve found boxes of high quality wool, NZ and Oz wools, for 300 RMB – 400 RMB. That box, such as the one depicted below, would usually contain four to six balls, along with a couple of spools of thread and small cones of yarn.
I guess, in the true spirit of free marketism, $16.99 is what the vendor thought the market could bear. The market is saying “no” because there was only one sale of the yarn.

UPDATE: A picture of such a box of yarn has been included.