Sorry I posted this under pictures and I guess should have posted here, sorry for the double post. I wanted to know what value I should list for the quilt below. It is approx. 60 x 80 large throw and has hand stitched counted crosstitched in some of the blocks. It is being donated and will be part of a raffle for the Houston Food Bank. I have only been quilting for about 1 1/2 years and only been on this board since July so I need help!

I am new at quilting too so I have no idea on values but wanted to let you know the quilt is super cute!!

me too, courious to know as well.

Have no clue on value either. It sure is adorable and for a great cause. Cudos to you!

I believe for tax reasons you can only include the costs of the materials. It would depend if you need the value for the tax deduction or for other reasons.

The reason is not for tax purposes. For all the raffles we list on the information sheet what the value is if it was purchased new.

If you are looking for a retail value for purpose of the raffle, I would go to etsy and look for quilts of similiar size and work involved and do an average of the selling prices you see listed. It is not a perfect method but it will provide something for you to base on valuation on.

The quilt is very cute and I hope the raffle raises lots of money.

At least $250

Value is tricky, but I've heard a lot of people say it should be cost of materials X 3 or 4.

Are you asking value for selling it or charity donation on taxes for donating. If for taxes for can only claim the cost of materials. Labor you perform is not considered a charity donation. Wish it was I donate 10-12 quilts per year.

I'd figure out how much the fabric, batting and thread costs. Then figure out the hours you spent cross stitching the blocks and putting it all together. How much would you charge per hour? I know, that may make it pretty expensive. But your quilt is very nice and cross stitching is time consuming.

good luck

I have some precious cross stitch pattern books, and it says in the book that you are not allowed to sell anything made with them.
I would insure it for $2000.00

This was not sold it was for a raffle, tickets are sold and you drop it in the item you want to take a chance on.
I personally know Pat Carlson who is the owner of Gloria & Pat Designs who has written all of the cross stitch Precious Moments Books and don't think I will have a problem. Thanks for your input.

Spring for an apprasial with an AQS Certified Appraiser in your area. http://www.americanquilter.com/about_aqs/appraisers.php

There are different prices for different purpose appraisals. She (or he, for that matter) may be able to help you so that you will find future donations more accurate also.

Jan in VA

My DD took me to a "green" baby store for a 36 by 36 four patch with no quilting only tied was $150. It was a very plane quilt. But that was in a yuppie part of town. Check your local baby stores. Good luck :thumbup:

charity donations are valued at actual cost of materials- it's not allowed to add in time- only the actual materials cost.
so it is important to save reciepts- especially if you plan to use it as a donation tax deduction on your income taxes.
an insurance or resale value would be figured at cost x 3.
but most charitable foundations only allow the actual cost values.

I've had this question pop up on other things. The rule I try to take is materials x3 for a simple quilt - nothing fancy or "special". I jump to x4 for fancy and that can mean difficult or hand work etc.

I wouldn't have any idea how much the value would be, but it sure is cute!
Mary

$300 is good, but for a charity raffle, I would put an "insured" value of $600-$800!

It is very hard to estimate a worth of a quilt. I wish you good luck with the ticket sales. You have done an EXCELLENT job. :lol:
Joellyn

I would value the quilt around $250. Unless you have an appraisal for the quilt you cannot claim an insured value. An insurance company will only compensate for materials
used if you have a receipt. Unfortunately, in this situation we never get credit for what it is really worth.

most I've seen have been taken to an appraiser and that is the advertised value of the quilt.

There is cross-stitching on some of the blocks. Which adds immensely to the time involved.

I have no idea on the cost of a quilt BUT I have to say I love love love the quilt in your avatar. Do you mind telling me the patttern? I would love to look into how you put it together.

I would estimate $300-350.

I think that's right. Unless you have it appraised for value and have a rider on your insurance policy.

See if an appraiser in your area is willing to give you a free appraisal for the raffle.

If you were to insure this with an insurance company for replacement value it would be VERY high. Get it appraised!
Like anything, there is the IRS tax value, donation value, actual cost, replacement cost, etc. Only a trained expert can answer your question. When you raffle the quilt you can advertise that it will come with copy of the appraised value so the winner can get it insured if they want. When people can see the REAL value you may sell lots more tickets. It's like buying a diamond ring= you'd pay more when you could see the actual expert certified appraisal.

There was some discussion recently on how to price quilts you might sell; a professional fabric artist broke it down and if I remember correctly, the final note was approx. $10 sq/foot, everything included, so for this one, it would be about $350, sounds fair to me...especially with cross-stitch in addition to piecing and quilting.

The pattern I started with was the Big Block that idea but I made the blocks to fit around the cross stitch pieces I had and then measured to have all the block the same size. It was really hard and difficult to keep up with I know now it is much easier to follow a pattern!

I was told by one of my quilting teachers that take just the value of the fabric and double it to figure the value, when I asked how to figure the value of a quilt I made for a raffle. You can't include labor.

That makes no sense. You can't include labor in the value of your donation for IRS? OR the value of the labor in the total value of the quilt? Is this in the opinion of a legal group or the quilt police?

Considering all the cross stitch pieces as well as everything else involved I would say the value was between $350-$400 for purpose of the raffle.

I was thinking of a starting price of around $300 too. I certainly wouldn't put anything less than that on it.

I agree. I think we need someone with legal or tax training to respond to this.
Sally

When you donate a car, you can deduct the amount the charity actually sells the car for - not the value. In your case, I would contact the Food Bank and ask exactly how much your quilt sold for in the raffle (how many tickets they sold). You can deduct that amount from your taxes.

If you're wanting a price to quote to the charity, you could figure on:
quilting - two cents a square inch - $96
fabric - 4 yds front and back - 8 yds at $10 - $80
batting - $12
That's $188. If you add in what it would cost to buy hand cross-stitched blocks on ebay that's probably another $30 to $50.

Just beautiful
Have a Blessed day
Ellen

What is the value of this quilt needed for? For the people who are having the raffle so they know the value of what they are raffling? or for the person who donated the quilt so they can deduct it on their tax? These would definitely be different amounts.

I have always declared value as to how much the quilt brings in. The charity has always sent me a recipt ater the raffle

I would say $250 to $300...I understand it is for non profit and the value listed needs to be what you would sell it for...nothing to do with taxes. You did a great job and I am sure will be a blessing to whoever gets it.. :D :-P