If someone were to ask me to make a quilt, I would price it by cost of materials plus time. However, if someone wanted to buy one of my quilts that are already made, I would look at it differently. Suppose someone offered $500 for an already-made quilt, and I knew that I had worked on it for 100 hours and spent $200 on the supplies. I would only be making $300 for the 100 hours, not a very good wage at all. But then I would ask myself, would I rather have the $500 or that particular quilt? The answer might be that I'm not all that attached to the quilt, and the joy was in making it, not keeping it. That $500 might go toward the cost of more fabric, or patterns, or sewing machines, or it might help out in a more practical way. So the quilt that cost $200 to make might even go out the door for $100 if I would rather have the money than the quilt.