Not all eBay sellers have a clue as to the value of the item they're selling. We don't know until we "ask". I recently put in a offer of $275 on Mexican Banknote listed for $600 (and several auctions before that had started at $750) He declined my offer, and has kept reducing the price every week as he re-posts it. He's not yet even made it down to catalog value...

The Low-Balling, Bottom Feeding, Circling Sharks occasionally find clueless sellers to feed on, and score a great deal. If not, they don't have to see you at church or the grocery store. You're equating eBaying with the Gentlemanly Hobby of Chip Collecting as conducted face to face at a meeting / convention. Used to be like that, but eBay has slowly digressed into a format geared toward the Lowest Common Denominator.

I always send a friendly reply to the bottom feeders. Good things have come from starting a discussion with them. Some of them are nice folks, just looking for a deal /counteroffer/ discussion, and I've made a deal with them at a more reasonable price.