To be perfectly fair, NO! They don't realize it, because they can buy hand-quilted queen sized quilts at JCPenney for $29.99.
About 20 years ago, my MIL called me about 6 months after I had given her a bed quilt to tell me that she hadn't properly appreciated it. She had just come home from an Amish quilt sale and finally realized that there was a significant financial value to my gift. (she had already appreciated the kind gesture, but she hadn't understood that this was an "expensive" gift, if you know what I mean.)
Now, her house is draped in every quilt I have ever given her. She has tablerunners over the backs of chairs as well as on the tables, wall quilts, lap quilts...
But prior to that, she had only been able to compare them to what she saw in stores. And when you can buy entire bed-in-a-bag sets for under $40 at Walmart, how was she to know any different??