That does happen on Craigslist and eBay. I've noticed some things that have been overpriced for more than 18 months.letterk wrote: The high prices are just feeding off of each other. .
Try this. Call and ask the person about the equipment. Ask lots of questions. Suck up some of his time. Call again and say you are interested but the price is too high based on what you have learned in your research. See if he comes down. Whether he does or not call back again after about two weeks and arrange a meeting; then cancel the day before (you are having second thoughts).
From a negotiating perspective this is why doing this works. The more someone invests the less willing he is to give up that investment. The seller has invested a lot of time, emotional energy and hope (got one maybe) in trying to sell what is listed. This puts you in a position to negotiate a better price on the phone.
When you do meet inspect everything and ask questions that most sellers can't answer such as when did they last do maintenance, what is the condition of the v-belt, etc. Inspect the machine (or part) and find everything wrong you can. Then make an offer that was less than on the phone. If he says no, walk away, slowly. More investment he doesn't want to lose. Often you will be met with, "I'll split the difference."
Return and say this (as an example), "Okay, so now we are at $300; We've only $50 apart. It would be a shame to not be able to sell this after all the time we've invested." Then wait. . .wait. . .wait. . . Sometimes he will cave in and say okay. If not offer $275 and wait. . .wait. . . If nothing changes, extend you hand say, "Thanks anyway" and start walking away. This really works. Remember anytime someone splits the difference he has just lowered the price. You can get him to lower it even more by doing this.
I helped a friend buy a 510 that the seller wanted $600 for, then $550 over the phone, finally $450 and a meeting was set. We met, inspected it, found lots of things wrong with it (all miner) and bought it for $325.