making real money at crafts, including quilting, is hard. nobody understands the initial investment that has gone into the item. here is my take on this:
figure out the price of all your supplies, including thread, batting, etc. fabric of course.
estimate the number of hours you will spend doing the work for this item.
decide your bottom price per hour and raise it.
multiply hours x $$. add to that the amount the materials cost you in the first place.
this is your BARE BONES price.
if you live in or near a popular area, raise your bottom-line price.
DO NOT sell yourself short. it sets a bad precedent. when people come back to you they will expect low prices.
whatever you decide to do, good luck.