I posted a picture of the two quilts I made for Christmas gifts...my Fiance' asked if I could make the Shadow Box quilt again for a charity auction. They also need to have a value put on this quilt (not sure why) but the quilt that I will re-make is the first quilt in the picture (Shadow Box) it is 68x71in., does anyone have any idea what value I should give them?
Thanks for all your input.....
I would think the value of all your materials and a "reasonable fee" for the sewing/quilting of the quilt.
They may need it for several reasons... they might wish to give you a receipt so you can deduct it on taxes or they might need to have a value to advertise what the prize is worth or again, they might need the value to give to the winner of the auction (something about the difference in the price they pay and the value of the item being tax deductible).
If in doubt, ask them why they need the value and go from there.
My quilts this size, I sell for $300. to 450. I would say this would be $350. It is a very nice quilt.
I would consider the cost of the fabric, the quilting, and then add a price for the time in it. They may be looking for a starting price at the auction and perhaps to give you a receipt for tax purposes. I would add a label to it with the name and date of the charity and auction. That always seems to make people willing to pay more.
Not a penny less than $350. More like $400.
(and since we're almost at a 1:1 rate, it doesn't matter which currency :roll: ).
Your costs include around 9 yards of fabric, batting, thread.
That's around $100 US (but I'm sure it costs you more in Canada). Call it $130.
Double it for time to make the quilt (which is sometimes used as a standard...I don't know that I agree with it).
If you sent it out to be quilted with a simple design, it would cost around $100. So that's the value of the quilting.
Add some in more....just because. :thumbup:
You also don't want to lowball it because you want the bidding to continue to move up, not stall out at some lower number.
I don't know where in Canada you live, but here a charity has to have a lottery license to have a raffle, item on tickets, etc. if the tickets are going to be sold to members of the public outside the organization. In order to get the license, the value of the item has to be reported to the government department that licenses lotteries so they can calculate the amount that is paid to the government at the end of the process.