I have donated crib or kid sized quilts to silent auctions because I make them for Project Linus anyway and usually have some on hand. I don't mind what they sell for. We have a lot of quilters in my little community and most donate table runners or small wall hangings.
I was "volunteered" once to be in charge of a silent auction for a friend undergoing expensive cancer treatments out of town and I can tell you it is very hard to price hand crafted items. Setting the starting bid high enough to reflect the value often results in no bidding. The goal is of course to raise money for a good cause. It's impossible to make everyone happy. We did the open bidding sheets with a starting bid of about 1/3 of the value and a set increase amount per bid. It was fun to see which items got into the "bidding war" stage. But, it was a ton of work!
Our nearest library does a quilt raffle every year and I hear they do really well. The quilts are always amazing and I've purchased my fair share of tickets over the years.