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Yeah, I agree. You see some priced at ridiculous prices on eBay, but they do sit on there forever.
Every time I see a bike on here priced highly, no matter what it is, I rarely see them sell.
It would be interesting to see how many bikes have sold on here above a certain amount, like £700 or £800?
There are definitely bargains though. I picked up great deal off someone on here on a steel road bike posted from Germany.
I think a lot of people are testing if they can get away with it at first, then drop accordingly when it doesn't sell.
Poetic
You see the same (overpriced) bikes being peddled on eBay over and over again. More than a year later, Brick Lane Bikes are still trying to sell the same Look and Somec. And Vintage Velo are only just coming around to the fact that they've asked too much for their Olmo Sintex.
http://www.vintagevelo.co.uk/shop/vintage-bikes/olmo-sintex/
Prices are high but nobody's biting.