I'd decline the fabric. Keep the transaction separate from the box of fabric. Itemize everything in a written proposal for her to sign and collect 50% of the money upfront prior to starting the quilt. Seriously.
Sandy

I was going to recommend you watch this video as well, posted on Quilty. I even posted it on my Facebook page, to give my friends an idea of how much time actually goes into making a quilt, more if you quilt it yourself. I'm sure none of my friends watched it, but it made me feel good to post it anyway. Know that your time is valuable, and you can't put a price on creativity. My step-father was an artist, and when people would balk at the price of his paintings, he's say "Paint brush on one end, genious on the other". So true. Good luck, free fabric is always fun, but if it were me, I would still charge for the labor and any supplies you need to buy to finish the quilt.

The last time I made a quilt for someone who provided me with all the material, was very happy with the product. She had the use of her eyes when she cut all of the squares, and had all in a box. The material wasn't rotten, so I washed it before starting the design she wanted. She loved it! BUT....she was in her 80's. Funny thing was, after washing all pieces, I took them to her and laid them out on her bed to show her the size, mentioning there will be shrinkage once it was hand quilted. She said she understood. She took me to court a couple of years later stating that I STOLE her quilt pieces and gave her a small product!!....ARRGGHHH Needless to say, she won in court because I had no proof, she had babysat this judge many many years ago and he remembered her...needless to say I will NEVER quilt for another person who asks! Dementia can happen to anyone at anytime....I'm not willing to take that chance again. I do, however, quilt and give away but not because I'm asked.

Michelle is right on the prices. And with more thought, I would not agree to make this quilt for her for a box/bag of fabric. However, you could tell her you will instruct her on how to make it herself and recommend a longarm quilter for her to pay to quilt it! Just remember, an instructor does not "do" for the student, just tells and maybe shows once, how to do something. If you "show" how too much, you are making the quilt for her!!! She can use that box/bag of material to make her quilt!!!

Just because you posted and asked I think part of you is already thinking it might not be a good idea. Alsoyou have not seen the fabric so it is kind of like getting a cat in a bag. Most likely if she tried to sell the fabric she would have a hard time selling it at all. I agree, let her sell the fabric and pay you a fair price for making a quilt. this way you can buy fabric you like for sure in the quantities you need.

Wouldn't it be great if I could spell genius? Lol!

Yep....practically a shipping container full. I could not do a commissioned quilt for all the tea in China...(and I loooooove tea). Personally I'd give it a miss.

Really, really BIG BOX!!! And, quality fabric, of course!

I think we are all on the same page ! Either you can give this woman your time and a quilt as an outright gift if you want to, but a box of old fabric in trade as a serious deal leaves you with the really short end of the stick!!