How do you price art?

The difference between what a quilt is worth and what people will pay for it! This is a constant dilemma I face when determining the asking price of a quilt.

Recognizing most buyers are unaware of the cost of fabric and batting and don’t realize the number of hours spent sewing, quilting and binding, I have accepted that most of our quilts are extremely underpriced. We quilt because we enjoy the process; we quilt to support two important missions of our Church and we quilt because we can’t not quilt. But we don’t want to “give” our quilts away or set the price so low that the public believes them to be cheap.

Quilts, as well as pieces of art, are often worth much more than what buyers are welling to pay. The chart below has been floating around the internet for several years.

Another formula for pricing quilts was width (inches) x length(inches)X $.50=asking price. An example would be a 50 in x 50in baby quilt. 50×50= 2500x.5=$1,250. Yikes. in my wildest dreams–not happening!!!!

Another method is to check Etsy or eBay and compare the quilt with those listed. Of course it is difficult to check out the quality of fabric, the skill of the quilter, and the complexity of the pattern.

And in our situation, we have to look at our market. Years ago, I had an extended family member who collected unique cookie jars as an investment. He would show off his latest cookie jars and quote from some obscure internet site the extraordinary current worth of the jar with a prediction of what it would be worth in the future. A divorce and health issues happened. As far as I am aware, the jars were sold at garage sale prices. A lesson in worth versus what the market will pay.

Another consideration is that homemade quilts can not be compared to the mass produced “quilts” from China. If you are looking for a temporary splash of color for a room or just something to keep you warm, our quilts aren’t for you.

And to further complicate the dilemma of “quilt pricing” is the history or age of the quilt. Vintage or antique quilts are treasures. But how to determine it’s worth??? When pricing a vintage quilt, the history, the condition and the style are important. Vintage quilts usually reflect a slower-paced world in which quilts were hand sewed and quilted and the quilters wanted to show off their skills with intricate designs.

This quilt was donated to the Quilters at First.

The person donating the quilt estimated it was made several years before 1970, given the family history. This is probably as close as we will get to dating it.

The pattern is “Fruit Basket”–with 72 baskets. The scalloped border is very rare. It measures 87″ x 96″. The hand quilting is exquisite…very dense.

The second photo is the back side–the quilting pattern is easily seen–every stitch came through.

Every triangle point is nearly perfect!

I haven’t found a stain or worn spot on the entire quilt. Probably it was put away in a closet to be save for something or someone or sometime very important. I doubt it was ever spread on a bed.

The quilt isn’t bulky, if batting was used, it was a very thin layer.

I would love to know the story of this quilt. Who was the artist? What was the occasion-a wedding or housewarming gift? Was it a “check this off my bucket list” project? I will never know the history of this beauty, but hopefully I will know its future. I want a home for this quilt where it will be treasured and enjoyed.

So here is the million dollar question! What price do we decide upon? Please leave a comment with your suggestion.