A story either verbally or written [the preferred method] would be a great idea ... esp if it is for someone special. some quilters make an envelope out of their labels and put the story inside of the label as well ... having printed it out on material. Nice idea.
Price ... that I wouldn't include. However, if I put a lot of $$ and talent into it I might have it appraised and give the appraisal to the person receiving the quilt. You can always find local and reputable certified quilt appraisers through LQS's or your state quilting guild.
One friend gave a family member a quilt that appraised over $1500. Her work was fantastic and individualized to the recipient.
ali