Someone has asked me to make them a wallhanging - the one they have seen took me a good 40+ hours to make. They know they'll be paying for fabrics, but how do you decide how much to charge for the work?

We have not yet decided what the pattern will be, but I know that will affect how much to charge, I just have NO idea where to start beyond that.

Any ideas? I'd love some help with this!

I think this subject has come up before. The amount is never enough, really that you would make off of makig a quilt for a friend. It is a labor of love in the end. I would try for at least minimum wage, if you can get it from her. People just don't realize what it takes ot make a quilt.
I solved the problem once with a barter. She knitted a sweater for my grand daughter snd I made her a baby quilt. I loved that sweater. She really put herself into it. It was a win win situation.

I agree.

The couple do know how much goes into it - they've seen me working on various pieces, and her mother quilts, though her arthritis is hampering her hobby and she doesn't do what they want on their wall. Also, she's not so much a friend as someone I have worked with. They're willing to pay whatever it's worth, I just don't know how to go about figuring out what it's worth. They've been debating paying upwards of $1500 for a piece of art to fill this wall, so I know whatever I charge will be fine with them.

Do I charge by the hour, or is there another means of coming to a total that I haven't thought of?

(My apologies for any typos... Typing on my phone isn't easy!)

I was told once that the rule of thumb is twice the price of the fabric, so if fabric is $50 - your labor would be $100. But that sure doesn't sound like enough for 40 hours of work. I would go with $10 per hour plus supplies.

Well, Libby Leman told us she charges $400 a square foot for her quilts, and has no problem receiving that much. Of course she is an award-winning quilt artist, having a quilt chosen as one of the Best 100 American Quilts of the 20th Century.

I would not make a quilt for minimum wages. On the other hand we don't have the resume Libby does, at least I sure don't! :D But, it does give you an idea of what "art" can be worth. So, your quilt (art) is worth whatever you think it is, don't undersell yourself.

Have you considered having other one (the one they watched you make) appraised?

The rule use to be labor was 3 x the cost of supplies. That is a good place to start. Some base it on the retail cost of the supplies and some base it on actual cost.

It is fairly standard for art quilt prices to be set based on a rate per square foot with the rate being dependant upon your "standing" as an artist...beginning, emerging, established, or master. Average prices for pieces by beginning art quilters, those who have sold relatively few works but may have received some local attention, start at $50 per square foot. That is inclusive of materials, of course.

$400 per square foot?!?! OMG! I thought $100 for long arm quilting is crazy expensive

OK, but using the $50 a square foot, a 48" x 60" quilt would be $1200? Hummm, I think that might be a bit much, unless you are an award winning quilter. I would think up to $500 would be about right....anyway, that's what I would think about. I have a friend here in CA who has winning quilts, and she charges up to $700 for a bed size quilt with custom quilting. So....I don't know. You would have to consider the local market, too, I think.