That's a stunning quilt, well done!
I do like the idea of a christmas present, but then it's a pretty "big" present.
We have the "x3" thing here too.... as a general rule it's one third for materials, one third for labour, and one third for profit. The sad fact is for hand made crafts it usually puts the final price out of reach for people, it just ends up too high.
For a family member or close friend I would also discount the price, we call it "mate's rates". :-)