Re: pricing.
Well, that's trial & error, especially if you've never shown. The best way to price something is to know what the market demands, i.e., going to lots of galleries. Market demands are ruled by Artist Buzz and Artistic Quality. Warhol, having been in advertising for so long, knew more about the former than the latter, but it was the former that allowed him to continue. He saw that Buzz was as powerful, if not moreso, than Quality or even narrative, knowing that narrative can be an add-on.
It's important, too, to know the differences in pricing within each medium. There are nuances like subject matter, genre, eloquence and craftsmanship, to name a few. If you study what local galleries are doing, you can gain an insight to what your local art market is doing. If you do cute little bunnies with devil's horns, that might be a more skateboard/tattoo crowd. If you do landscapes that might be of a more conservative crowd. Always know there's a collector out there for every piece you have. Market yourself accordingly.
Another sometimes strange realm in pricing is Perceived Value. Price your works too low and many collectors feel they are getting "ripped off", so to speak. After all, if you feel the works are worth five bucks, then imagine what they must think the market value* of Your Name Here would be after their purchase?
*Of course, you want collectors to buy your pieces because they like them. Few collectors should buy for investment purposes, but they're out there.
Price them too high and you price yourself right out of rent. Don't price them too high at first and then lower them...we're talking going from $1200 to $200...It's easier to slowly up your prices after you pay some dues but a K.O.D. to lower them as time goes on.
If you sell out (literally, not figuratively) and you regret pricing your pieces so low that you feel you got hosed, don't fret it. It serves many purposes. Most importantly, your work got into someone else's hands and that, my friends, is the real gift. The look on people's faces when they like a piece and they walk out with it is worth any regrets, assuming their check doesn't bounce - heh-heh.
Now, look at your walls after the show. See any of blank spaces? Good! Get to work & fill em up again for the next show! It's not like you can't make more, right?
Lastly, if you see someone who really wants a piece and the only thing blocking them from having it (and you having that $500) is the money, be flexible with payments, don't automatically lower the price. Don't be afraid to split the payments into 2 -3 lumps. Just don't let them have it until it's paid off ;) This keeps your (perceived) market value intact.
Artists, treat your work with care. Grabbing a piece w/one hand and scraping the wall as you do so sends a subtle message that you don't value your work according to your prices. If you treat each piece with care, people notice and will justify/rationalize paying for that piece, rather than wonder if they're getting ripped off.
The topic of pricing is so large & convoluted, it's hard to elucidate all the subtleties here, but if you're an unknown, be prepared to price your work so they'll sell.
If you want to get an idea of what to price your works, maybe you could ask all of us here for our input*, like..."What would you pay for this piece?" (pic)
* Note: you'll need to give us the size, medium, title, and any special meaning behind the piece. After 10 people give you their input on pricing, you might feel better about asking for X amount. You may also want to exclude the highest & lowest prices like they do in the Olympics, to keep it from being overly biased.... 
I'm no expert, but I've studied the arts and artists for some time...
you may be missing a very important hidden avenue for raising funds that almost never fails for me & is very simple to do: home gallery shows. 
