Nothing is overpriced if people are prepared to pay for it.
That logic only applies to collectables. Non-unique mass produced items have a realistic value you can assign to them. For example: If I sell a used camera for $75 when it would cost $50 brand new off of Amazon it's overpriced. If the rest of world actually followed your logic there wouldn't be laws against collusion, price fixing, and other anti-competitive behaviors because "it's worth what someone will pay". Just because the buyer doesn't realize he's being taken advantage of doesn't mean the item isn't overpriced.