As someone else here once mentioned, some sellers may be desperate for money which leads to asking crazy prices. When I'm selling something, I try to do at least some basic research to figure out a reasonable asking price.

As a potential buyer, when I see a wildly inflated asking price, my instant opinion of the seller is that he is unreasonable or uneducated about the item. Almost never do I decide it's worth the hassle to deal with an unreasonable seller, nor do I want to invest the time in educating an uneducated seller.

Some people may enjoy the third-world bazaar concept of haggling for hours with a seller to lower the price of an item, but that's not me.