A simple and fair way to price art is by size. Of course there are different categories such as charcoal, oil and acrylic work that may have a different pricing structure. Also there are so called 'specials'. For example a larger series of paintings could each be sold at a fixed price that is less than other paintings not of the series that are the same size.
A lot of people buy art as an investment. For this reason an artist should never lower his/her prices. By contrast the prices should increase on a regular basis regardless of economic times.
As artists we have to be able to ride out the economy should our art not sell at a given time. Sometimes we have to find other sources of income in bad times while we keep on painting. The life of an artist is not always an easy one. My Mother used to say 'an artist paints and starves'.
