I have donated many quilts over the years ... usually to a charity organization that gives them to children ... my favorite is the Cancer Cabin in Woods, Oregon. I usually try to give them four or five a year. One quilt I donated to the group ended up being raffled off at the library in Pacific City. I don't know how much they earned on it, but it was more than I spent making it (at least I hope so). The lady who did the longarm quilting gave me a special price because of it going to charity and that helped keep the cost down. I even bought tickets for the darn thing because I posted a picture of it on my facebook page (bragging about it being chosen for the raffle - lol) and a girlfriend said she wanted it. I didn't win it for her but it was nice knowing that I made a contribution to the local library. I would definitely do it again.
My question is -- how do you establish a value on a quilt? When I was in the library purchasing raffle tickets I told the lady I had made it and she asked if I would consider making a quilt for the children's area of the library. The wall they wanted to hang it on is only 24" wide so I made a small wall hanging - consisting of three 12" squares with sashings and borders. I gave it to them and they have given me a receipt, but I have no idea how to establish a value for IRS purposes.
As far as quilts for gifts - I only give to people who I know will appreciate them. We all know who those people are and it's always fun to surprise them with a gift of a quilt - just did that today - a small wall hanging for a former co-worker.