to Native Texan: I live in Amish/Mennonite Midwest, and their quilts are rarely listed less than $1000. Keepsake quilting has a room with finished quilts, and some of those are listed at upwards of $2000. I have never personally sold a quilt, but if someone really wants a quilt, they will pay the fair price. If they don't want to pay for it, then that's up to them, but I wouldn't make one for the cost of a "store-bought" quilt.
Most of them aren't even made in the US.I went to Tennessee last year, and looked at some of the quilts in a little market. Their prices were in the $400-600 range, and their labels said Made in China. I complained to the manager, and said hat it was a shame that Chinese quilts are being sold as authentic homemade quilts, in the middle of Appalachia. She said that somebody deserves to be paid for their work, so it might as well be the Chinese, since American quilts are too expensive to make.