Have fun with it. http://houzz.com/photos/15109599

All ceilings are usually white and walls are any color you select. This also has the advantage of making water stains easy to touch up. Molding here would usually be a white semi gloss. Your ceiling is a actually a tray ceiling. A coffered ceiling is a tray subdivided most often into rectangles.

We tease some of our male designers and tell then that when you are Da Vinci and know all the rules you can disregard them, but that they should start at least with the beard.

With paint any decision can be repainted if the choice wears thin. So there is less danger in bold choices.

I've decided to go with a paint one time darker than the walls. Yes Tray ceiling, my error. And the trim will be white.

Do you have a pic of final look? We have basement tray ceiling and I’m debating on painting the inside tray ceiling a shade darker than the walls also...a navy blue??

Very high ceilings can be OK dark colors but low basement ceilings will look better with light colors. Dark low ceilings feel cramped. Being this bold defies the "Da Vinci theory".