Traditional media artists regular "cull" the herd so to speak. No different than photographers removing images from your FAA gallery because the old work is not up to the level of your new work. Donating old paintings or giving them to good will is generally regarded as a bad idea. It all comes back to, "If you don't value your art no one else will", by having a "fire sale" or giving it away you've devalued your art. I recommend not just throwing it away but destroying it before you throw it away so it doesn't get fished out of the trash and end up on someone's wall, (this has actually happened to an artist.) I know of several professional artists that have annual bonfires of old art they either think isn't up to their current quality or for some reason or another just wont sell.
