Originally Posted by pittsburgpam
In this economy and so many people quilting, I just don't see anyone paying that for a quilt.
Most likely, the appraisal is based on how much it would cost to replace the quilt in case it gets lost or stolen. The appraisal is evidence an insurance company would need of the value of the quilt - it's not just a "blanket" worth $50, but a work of art.
If you're thinking of selling the quilt, then it's a starting place on a price.