What it really costs to make a quilt

I have had people ask me to quote them on me making them a quilt.  I have not had any taker when I have told them what I felt it would be.  I have also told some folks  "well, you buy all the materials and then I will charge you $250.00 to make it."  Still no takers.  That is alright with me also.  However, I found this on the quilting board that I belong to and thought I would add it to my blog.  So my family and friends, when I tell you that the quilt I have made for you is worth between
$ 600.00 to $1,000.00 I wasn't being funny :)

QUEEN SIZED, MACHINE PIECED, HAND QUILTED

 

MATERIALS:
Fabric 12-16 yards @ $9per yd. $108 - $144
Batting $25 - $40
Thread $8 - $16
Spray Basting 1/2 can  $7
Total $ invested $148 - $207

LABOR HOURS:
Piecing 20 to 60 hours
“Setting” (designing your quilt) 10 to 20 hours
Quilting 100 to 750 hours
Total hours invested 130 to 810 hours

TOTAL COST
Paying $1 per hour (Would you do this type of work for $1 an hour?!)
Materials $148 - $207
Labor $130 - $810
Total $278 - $1078

Paying minimum wage $7.25 (by law in 6/2009)
Materials $141 - $200
Labor (130-810hrs) $942.50 - $5872.25
Total $1083.50 - $6072.25

Paying skilled labor wage $20 per hour (Don't you consider yourself trained and skilled in this craft?)
Materials $141 - $200
Labor (130-810hrs) $2600 - $16,200
Total $2741 - $16,400

(Found on the Internet 1995; unknown author)  This was from 1995 not 2012 :)