In a story about pricing of non-alcoholic beverages, I came across a fascinating line of information (oh how we surf!) about price anchoring. This concept, described by Nobel Prize winning psychologists (their Prize was for economics!) Daniel Kahneman and Amos Twersky, relates to the way we come to accept a price range for something. Real Estate comes to mind – who decides how much a house should cost? Have a look at this useful Australian government URL, which includes suggestions on how to respond to a price you believe is ridiculous.
https://behaviouraleconomics.pmc.gov.au/blog/anchors-away-prices-anchors-and-auctions
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