My own feeling is that a lot of art is underpriced. Art is one of the rare things that has true, long lasting value. I don't mean dollars, necessarily~ I mean intrinsic value. If you like it today, very likely you will like it even more in a year, or in a decade. There is not much else out there that this can be said for. You love that car today, but in a decade it's going to be a rusty pile of loose screws.
People who bought my work three, four or five years ago sometimes come back now to add to their collection. They frequently write how they still love the first piece they bought. That is part of the special value of art~ the pleasure it brings does not decrease after a few weeks or years.
Art is hard to price because each piece contains something of the artist's soul. That's something you can not measure by the pound or by the yard. Knowing what to do, and what not to do~ how far to take a piece, and not to cross the line-- that's the artist's job. Putting a price on this is not an easy task.