One of my friends sells her work regularly and gets a "pretty penny" for her work. She recently sold 3 to one person and the most expensive one was sold for $900.00! I went to Lancaster, PA twice and of course saw all the wonderful Amish and Mennonite quilts for sale - they ran anywhere from $450.00 for small quilts to nearly $2,000.00 for the larger ones.
If I were to sell quilts I would add up my materials and then charge what I deemed a honest and fair hourly amount for the number of hours taken to complete the quilt. It is only other quilters that really know the amount of time and money it takes to complete a quilt and therefore the people buying the quilt usually think it cost too much when told the price. I suppose it really depends on how much you want to sell your work.
I am an artist and I don't want to go home with my work, so I do not charge hugh amounts for my work though I think they are worth it. LOL. The cost of frames, the canvases, the oils and other equipment is not cheap, but if I can get all that back and just a bit more I am happy.