by default iphoto stores its image library inside ~/pictures/iphoto library. since my library of images have grown extensively over the years. i moved the iphoto library from my main drive to a secondary internal drive.
note these steps work for iphoto 2 and up…
2. open your pictures folder. drag the iphoto library folder to the new location.
3. hold down the option key on the keyboard and open iphoto. keep the option key held down until you are prompted to create or choose an iphoto library.
4. click choose library.
5. locate and select the iphoto library you moved in step 2.