Well, 3 is what happened in that hotel's case. Clearly whoever listed it there didn't bother to do any research at all. Maybe they couldn't be bothered, it's nothing to do with their core business, maybe whoever was tasked with listing it was completely disinterested in doing anything more than just sticking it up. "£400 sounds about right, like a games console".
I guess my point is that it is not necessarily a "bad sales process" when people list stuff for massively less than what they're worth, they might just be naive or simply unconcerned about maximising their return. They might just want it gone ASAP, they might not want to faff about with it (I sold my last car back to a dealer for probably £15k less than I perhaps could've got because I didn't have the time and couldn't be bothered to deal with private buyers tyre-kicking, etc).
Didn't mean to argue really, I don't disagree with the thrust of your point
My infamous £200 Ebay Whitewater was exactly that........... it was some sort of management training centre place. The pin had been in the rec room there forever. Nobody could even remember where it came from
Appeared to be non working. Some new guy was having a revamp and was told to sell it. It was all company money, the guy selling didn't care how much it went for , just wanted it gone ...luckily for me as he had a bunch of offers after I had secured it.
