In my experience, items are only worth what someone is actually willing to pay. Because if it is priced so high that no one in your target demographic is actually willing to pay that much, it is just unrealized gains. And for most people, an unrealized gain is equivalent to 0.

I see this a lot in the MTG community. People will say a card is worth $200 because that is what they list for on eBay. I ask if they’ve ever had an offer for that much - and the answer is almost exclusively no. I tell them that the ones listed on eBay are the ones that aren’t selling. The real value is less because no one actually buying them for $200, that is the cutoff where people stopped buying the card and so the listings stay up.