This is how I do it here and may others I work with, I hope this helps.
I assume that you have thousands of images to source from so the inventory of different images is not a concern. With that in mind a big edition of thousands of images is not only silly but not practical as in your lifetime you probably will not sell the edition or even produce it.
I also work from the premise that any iteration of the image is a number of that edition.. whether it is a large print, a small print, and even different process.
This is easy for me as I have settled down to pigmented gum over palladium prints and silver gelatin due to historical , visual, and archival reasons.
Therefore I call it an edition of unique prints.
In my case I consider the capture of the image the least creative part of the process . I am deeply concerned how the print looks and feels and I over the years have settled on a large project that works together and allows for many subsets, and within those subsets I have tried to expose enough objects to bring down my number of images of that subset to around 20 (average) some subsets work better for me than others.
At this point I have within two large Projects. OBJECTS and an older NATURE I have got about 30 subsets with an average of 20 images that I really want to print.
Doing the math , I have now have over 600 images that I want to print.
I will make inkjet prints to evaluate the original film quality , and I have scanned all 600 sheets of individual film at very high resolution.
Over the years I have gravitated to silver and for colour gum over palladium, , this is taking me years to print , but I am actually getting there and I
am doing them in the subsets, but rather than all the images within the subsets I am concentrating on at least 6 per set.( this allows me to introduce in group shows new work all the time) which I feel is an important factor .
I have decided to limit my editions to 5 prints of each so you can see I have potentially 3000 edition prints that I can work on. This may sound crazy for some here but I am responding to the OP's questions
as clearly and honestly as I can.
Doing it this way allows me to have mini shows of my work and people are starting to see what I do, I have sold prints and within some of the subsets a couple of the images are near the end of the edition.
I do not escalate the price of prints when the images are bought, YET, I will start doing this when I have representation(multiple Gallerys ) that I approve of and like as well I feel at this stage I want to keep working and exhibiting so selling them at a fixed rate now is good as some do sell, and this money is put back into materials to keep working on the two large projects.
Regarding pricing, it is my understanding that unless your work is selling for $5,000 USD it is not considered fine art. (please I am only the messenger here so no stones thrown please) . So with this in mind and the fact that I do not have representation , I have priced my prints, regardless of size or process at approx $1250 Canadian, If and when I get the representation that I want the price will double to $2500 per print to accommodate the gallery's fee.
Is this a pipe dream, Not for me, maybe for others, it takes 10 -25 years to establish oneself as a viable artist that actually makes income from their work, I am willing to take the time and understand the slow process to get to the point I want to get too.
All inkjets, test prints, prints that do not fit my expectations of final work are destroyed. when I finish a series I am destroying the intermediate film that made the prints, I am keeping the original film in safe storage in case of natural disaster happens to destroy my existing finished prints, I would then re print them .
My trustee who is taking care of my will knows to destroy all the film once I am in diapers and not able to print any more. The only reason for this is that my printing style is so unique to me that I do not feel anyone could replicate my style of printing , as its not like pressing a button.
I have never considered myself a photographer, I use photography to create the existing image but from there I move forward in a unique direction
back of print information in the non image area
signature, time of printing, edition 1/5 , type of print. all in pencil in the bottom
Hope this helps in your quest for info.