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Quilt appraisal

Quilt appraisal

Old 07-26-2010, 11:12 AM
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I received the appraisal of my quilt that was in the Knoxville show. It is appraised at $4500. That seems unbelievably high to me, I was thinking maybe $1000? Is that just insurance value?

In this economy and so many people quilting, I just don't see anyone paying that for a quilt.
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Old 07-26-2010, 11:14 AM
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Old 07-26-2010, 11:14 AM
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WOW!!! You have some gorgeous work in that quilt and you did get it into a big show and all.
There are people out there that would pay that kind of money for a quilt. Not everyone quilts!
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Old 07-26-2010, 11:15 AM
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I'm not sure but I think with appraisals it is given for insurance value. Insure it valued at the appraisers quote. Feasibly it is what it would cost you to replace it. When you consider your time and effort on top of the raw materials cost plus what you had to pay Judi to quilt it... I'd say that adds up pretty darn quick, plus a premium of it being a one of a kind original. I don't think this estimate is too high.
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Old 07-26-2010, 11:28 AM
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Originally Posted by pittsburgpam
In this economy and so many people quilting, I just don't see anyone paying that for a quilt.
Most likely, the appraisal is based on how much it would cost to replace the quilt in case it gets lost or stolen. The appraisal is evidence an insurance company would need of the value of the quilt - it's not just a "blanket" worth $50, but a work of art.

If you're thinking of selling the quilt, then it's a starting place on a price.
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Old 07-26-2010, 11:39 AM
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The written appraisal should tell you if it is insurance replacement value (which it probably is in the case of a show quilt) or fair market value (used for sale or donation purposes). More info on quilt appraisals. http://www.quiltappraisers.org/facts.html
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Old 07-26-2010, 12:02 PM
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What something is appraised at and what something can sell for are two different things. Market conditions, economy etc. will always be the determining factor in what an item is "worth".
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Old 07-26-2010, 12:37 PM
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My aunt had some of her quilts appraised and it's just for insurance. Her king size hand embroidered, hand quilted, cream colored satin with the states, state birds, state flowers and a star for each capital appraised at $7000. There's no way she could ever get that much money if she were to sell it. Isn't it a shame that a quilt would be worth more destroyed or stolen than it is intact? Of course even $7000 wouldn't cover the sentimental value.
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Old 07-26-2010, 12:44 PM
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I saw a hand quilted log cabin quilt at a craft center on the Blue Ridge Parkway just outside of Asheville that was priced at $3000. I don't know what size it was, though, but it was beautiful. And this was just last year.
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Old 07-26-2010, 12:51 PM
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well the designer quilters get that for their quilts.why not? i do agree about the economy but sometimes people do still spend for what they really want.
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