I went to a similar sale just a few weeks ago. One of our LQSs sent out an e-mail that one of thier former employees had died. Her husband was having a sale of her stash etc. He was selling the fabric for $4 a lb. THe shop said that amounted to about $1 a yard. I spent $39. You do the math. The sale started at 8:00a.m. My friend and I got there at 9:00am Things were already starting to be picked over. There were also some beautiful finished quilts. We ran into at least 4 or 5 other quilters that we know from various guilds.
At the senior center where I quilt with the ladies they are always getting material etc. when someone passes away. We have a 10 by10 store room with floor to ceiling shelves full of fabric, yarn and other soft craft supplies. We have used some of the material to make several raffle quilts to benefit the center. We are getting ready to baste one that we put together from some embroidered blocks that came from that stash. This will be the 5th one I have helped make.