Saturday, February 13, 2010
Facebook | Susan Shie Turtle Moon Studios's Photos - "Racism Did This to Haiti." 2 paintings ©Susan Shie 2010.
Check out the Susan Shie Paintings to raise funds for Haiti. They are AWESOME!
Tuesday, July 28, 2009
We salute Aisha Lumumba on her success and achievement. Her sister quilters at Ebony Stitchers are very proud of her. The exhibition was video graphed by the NBAF, a local television station, as well as Aisha had a prime time interview with WSB-TV People to People newsmagazine. Portions of the exhibition may be viewed at http://www.ebonystitchersquiltguild.org/
Please join Ebony Stitchers in celebrating Aisha’s success. It is a well deserved recognition for her long journey as a quilter and quilt artist. The exhibition was produced by Belinda Pedroso for the NBAF, and sponsored by the NBAF in conjunction with Brother International Sewing Machine and Ebony Stitchers.
Kudos Aisha, Kudos Ebony Stitchers!
Wednesday, July 8, 2009
If you are a fabric lover, we have just the thing for you! A fabric challenge where you can donate to a cause and recieve a dollar for dollar match in fabric. What could be better?
The fabric certificate will be sent to you from Intown Quilters 1058 Mistletoe Road Decatur, GA 30033 - Open Mon-Sat 10am-6pm; Sun 1pm-6pm http://www.intownquilters.com/ We buy fabric anyway, and lots of it! So this is an opportunity to support two very worthwhile businesses. You can support the Ebony Stitchers Quilt Guild exhibition in DeKalb County and you can also support Intown Quilters. When we reach the $4,000 mark, this opportunity will close.
Saturday, March 21, 2009
The purpose of this article is to provide a brief summary on:
1. Estimating the “monetary value” of a quilt, and
2. Identifying “criteria” that contribute to the appraisal of a quilt.
The quilt library catalogs are filled with documents to assist quilters with placing a “monetary value” on their quilt. In order to begin this process, the quilter must know and decide the answer to one important question: “For what purpose am I placing a value on this quilt?” This single question provides the foundation for the value placed on a quilt.
In addition to this most basic question, the quilter must also consider other questions such as: Are you entering your quilt in a show or contest? Are you an art quilter selling a piece to a corporation? Are you a quilt collector donating a single quilt or a collection of quilts to a museum and want to take a tax deduction? Do you want to give family treasures to your children?*
What is the “monetary value” of a Quilt?
In her article on “Setting a Value for a Quilt”, Nancy Kirk identifies five basic criteria for determining the value of a quilt: 1) Design, 2) Condition, 3) Workmanship, 4) Historical Interest, and 5) Age. The monetary value of a quilt is what that quilt will command in the marketplace as determined by sales prices of quilts of similar age, quality and condition. The monetary value is greatly determined by the combination of basic criteria and the personal value that purchases places the quilt.
There are five basic values for a quilt:
Sentimental Value is the value an owner places on a quilt because of family connections, memories and personal experience with the quilt. For a collector, this is often the most important value, but it is not a factor in determining monetary worth either for resale or for insurance.
Insurance Value is the amount the owner should insure the quilt for in case of loss, in order to replace it with a quilt of similar age, condition and quality. The replacement is usually figured as the cost of another similar quilt, but in some circumstances may include the cost of re-creating the quilt with like materials and workmanship. In some cases, insurance value may exceed fair market value. Many insurance companies require a written appraisal before accepting quilts as "scheduled property" on personal insurance policies. If the quilt was purchased, receipts should be maintained to establish worth, and appraisals over time will be needed to establish any increase in value. Sentimental value is not considered by insurance claims adjustors in determining the amount of a loss.
Fair Market Value is the amount a willing buyer will pay a willing seller for this quilt within a reasonable period of time and within a reasonable geographic area. Fair market values are determined by recent sales prices of quilts of similar age, quality and condition in the local marketplace. It does not take into account the replacement cost, or sentimental value of the quilt. It also does not take into account extraordinary marketing circumstances such as prices the quilt could command at an international quilt show with thousands of buyers present. Fair Market Value is a legal definition used by the I.R.S. in determining the tax-deductibility of donations to qualified non-profit organizations, or for valuing an estate. Fair market values may vary somewhat by geographic location, and can change due to current market trends.
Retail Value is the amount a dealer will sell a quilt for. The price could be slightly higher or lower than fair market value depending on the marketing plan -- internet sale, auction sale, quilt show, location of shop etc. Generally retail prices are higher in major metropolitan areas because of the cost of overhead, and auction prices can be skewed if family and friends are bidding using sentimental value as a guide.
Wholesale Value is the amount a professional dealer will pay for the quilt. You can generally expect this to be approximately half of the retail value.
Who determines the “monetary value” of a Quilt?
The monetary value of a quilt may be determined by a professional Quilt appraiser. But again, it depends upon the reason a Quilter seeks to place a monetary value on their quilt.
What is an appraisal?
An appraisal is a documented methodology for placing value on a Quilt (commodity). There are three common types of appraisals:
1. Insurance/Replacement Value: According to Terry King, Chairman of the International Personal Property Committee of the American Society of Appraisers, "[a]n insurance appraisal should actually describe what the appraiser found in the marketplace that would satisfy the loss of your [quilt], for example. It does not reflect what you could get for that particular [quilt], but rather what you would pay to acquire another one.
2. Fair Market Value: This is, according to both Wiener and King, is a "legal construct." King explains that fair market value "is used in the courts to settle disputes and is an ideal, or perfect-world, value. It assures that you and the government can get a fair shake." It is the fair market value that, according to Karen Carolan, chief of art advisory services at the Internal Revenue Service and chair of the ARS Art Advisory Panel, "is the one and only value that we use for evaluating charitable gifts and for determining estate/gift taxes." The IRS tax code states: "The fair market value is the price at which the property would change hands between a willing buyer and a willing seller, neither being under any compulsion to buy or sell and both having reasonable knowledge of relevant facts."
3. Equitable Distribution Value: This dollar evaluation is the type of appraisal that you would need if you were looking to divide up assets -- perhaps during the dissolution of a marriage (article by Ruth Katz, Colonial Homes, April 1996, p. 29).
Why get your Quilt Appraised?
Among the many purposes requiring appraisals for quilts and other objects are insurance, charitable donation for which a tax deduction can be claimed, estate tax, gift tax, equitable distribution in divorce, or liquidation.
Each of these purposes may require a different type of value such as replacement value, fair market value, marketable cash value, or liquidation value. Legal requirements vary about what each type of appraisal should contain. Every object in the world has a large array of different values for different purposes.
How do you “price” your Quilts for Resale?
Values are determined by the marketplace. Now, this statement is “nebulous”. What are the nuts and bolts? How do you price a quilt for retail sale? Below is a practical approach to pricing your quilt for retail sale.
Approach: Price by the square foot. You should develop different prices per square foot depending upon the complexity of the quilt blocks and style used to develop the quilt top.
How do you decide what your square foot price will be?
Step 1: Keep track of your time on when making at least one quilt. This would include time spent in preparation, designing the quilt, preparing the pattern, piecing, and quilting, basting and binding. Include preparation time such as selecting fabric, preparing the fabric, cutting the blocks, etc.
Step 2: Add up the number of hours you took to make the quilt and then divide the number of hours by the number of square feet in your quilt. That's how long it takes to make one square foot of quilt.
Step 3: Place a value on the use of your time as an experienced quilter, textile artist, fiber artist, etc. The value of your time should be placed between $20 - $40 per hour.
Step 4: Multiply your hourly rate by the number of hours it takes to make a quilt. A 100” X 100” quilt is 10 square feet. If you took 50 hours to make this quilt at a base hourly rate of $25 per hour, the monetary value of this quilt to the Quilter is $1,250 (50 hrs X $25).
What you need to be paid for the quilt is your monetary value. If you plan to place your quilt in a gallery, then your quilt price must include the gallery “mark up” – 10% - 25% over your retail sale price.
American Quilt Collections, Antique Quilt Masterpieces (published by Nihon Vogue in both Japanese and English in Spring of 1997),
American Quilt Collections guide to the types of quilts and services that are available
Online tour of exhibition "Quilt Masterpieces from Folk Art to Fine Art."
PBS - Quilts http://www.pbs.org/americaquilts/index.html Resources include links to museums, organizations; great glossary.
Quilt History http://www.quilthistory.com/ Wealth of information including dating, cleaning, restoration, more.
The Quilt Index http://www.quiltindex.org/index.php Display of quilts. The search by category-style, time period, and function-feature is extremely helpful.
Pricing Your Quilt
Saturday, August 30, 2008
What am I working on these days?
Saturday, July 26, 2008
My new website is finally published. It is a very great month for Aunt Be Quilts. We have been working on this website for approximately six months. It takes time to get things done well. We are located at: http://www.auntbequilts.com/.
My logo is also established. From now on Aunt Be Quilts will be identified by the following logo. Its a marvelous painting called The Quilt Lesson. It was painted by Margaret Warfield, a local Atlanta artist. She is world renown for her very colorful and passionate works. Her website is http://www.margaretwarfield.com/. Take a look at her work. You will be impressed.
It's July in Atlanta. That means - National Black Arts Festival, http://www.nbaf.org/. This is the 20th year of the festival - a real mildstone for the NBAF. The festival has gone national in so many ways. The growth is very phenomenol. This is really one time where Artists can come together and tell, show, sell, and view the artistry of other African American Artists in one collective. The festival ignites creativity in the artists and they come to Atlanta with their very best merchandise and artwork. Great shopping and great buys.
I am organizing a mini quilt exhibit of quilts made by former members of my classes. They were first time quilts. I will also exhibit three quilts made by elementary school aged students. It was also their first time out of the gate. They made quilts depicting their interpretation of the African Diaspora. The quilts are really good and engaging. I recieved quilts from the first, fourth and fifth grade classes. Kudos to them.
I am looking forward to hearing your feedback about my website.
Visit my store: http://www.auntbehomestore.com
Send me an email: email@example.com
Have a great Summer.....