well there’s a bit of human psychology at play here. if you see an item listed for lower than market value the seller has already implicitly devalued the item in the listing to the audience. it isn’t surprising some rational agents would then proceed to either ignore the listing out of fear of low quality or attempt to haggle for a lower price due to the already admittedly lesser value of the merchandise. it doesn’t make objective sense at all, i agree, but it makes a whole lot of systemic sense.