Here are a couple of questions for you. If it turns out to be of some monetary or historical value, what will you do with it? Would you sell it? Would you put it back in the cedar chest and "save it"? Will you pay someone to hand quilt it as has been suggested? Then, what would you do with it? Would you donate it to a museum? Would they display it? Or will they will wrap it in acid free paper and put it back in the cedar chest, so to speak? If it has no particular monetary "value", what will you do with it? Would you enjoy using it if it was finished?
I think you have to answer those questions before you spend the money to have it appraised/evaluated.
I'm facing a similar question with a family bible. Am I willing to spend $1,500 or more to have it restored? I don't think there anyone who particularly wants it in my family. It will not be of any value, other than sentimental, even if it is restored. I've been staring at it all week.
bkay