I received the appraisal for the quilt that was in the Knoxville show. It has an appraised value of $4500. When I picked up the mail and saw the letter, before getting home and opening it I thought... maybe $1000? At the most? I really can't see someone paying $4500 for a quilt, but then, I've really never looked at the cost of quilts other than simple little ones for a few hundred and the major award winning ones for tens of thousands.
The appraisal also says that this isn't a lifetime value since that can increase with the quilter's reputation and show wins.