In reply to craig h:
Why make a limited edition?
I can understand numbered lino-cuts or screenprints, or copies run off a press, as the hardware will wear out or be used for a new image, but I struggle to find any reason for limiting hardcopies of photographs whether digital or film.
The question seems to be one of marketplace ethics: I suppose a gullible customer will pay over the odds for the word 'limited'. You have to decide whether or not that matches your morality, and then whether you are happy to stop selling when you've run out of stock but the public wants more.
I should think that a different vehicle or a different medium (calendar print from a press as opposed to the original A3 darkroom print) would be acceptable. I have a numbered Kyffin Williams of the waterfall in the Ogwen Valley and wouldn't sue if I saw the image on a book cover but if I discovered my 55/100 was actually 55/10000 on slightly different paper I'd be pretty p**sed off.
D
edit: you might also consider that you could make more money by selling many cheap prints than you could by selling few expensive prints.
Post edited at 21:45