Your best bet for pricing in YOUR area is to call around and ask for pricing info. Most quilters will give you a basic quote of cents per inch for pantos or edge-to-edge, and another rate for custom quilting. Some quilters will have pricing info on their websites, also.
$1200 seems awfully steep to me. The most I ever paid was $350 for a machine-guided panto on a 110" x 110" quilt.