Ken York put up a half-acre waterfront property at 206 Shore Road at $3.850 million, it sold yesterday for $4.325. There are buyers out there, and they're ready to pay, but it's a transparent market, and when you display an indifference to reality, they shy away - I have a stable of would-be-buyers to attest to that. Ken set this price at the low end, plenty of people saw it, and bid it up.
And that's how it should work: don't drive buyers away, draw them in.
The painting illustrating this post, by the way, was done by the owner, Bob Fujitani, who made his living as a comic illustrator, but is a gifted artist in more conventional formats as well.