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Well that's what we call an economy in the game industry. It's a mix of supply & demand with a whiff stubbornness from players who have no economical background. That's how an economy in a game works. There are also dozens of people in OSRS trying to sell a chisel for 2000M. It's nothing illegal in in fact nothing weird. It's just how brains of humans work. If you think an item is too expensive just have patient and be alert on what's going on in the trading post, maybe set out a buying thread on forums/Discord or pay the price that is currently the least that people are selling it for. If you're not sure about prices you can just click an item in the TP and see the average sell-price of the last 30 days including the amount traded through trading post during that period. People can sell or buy items for whatever price they think it's worth. If I want to sell my car irl for 100K nobody is going to stop me from trying to sell it on Facebook market whilest it's only worth a quarter of that. People will just laugh at it, move on and if they want that type of car they search for a cheaper one, have patient or buy something else. On top of that, prices change constatly (as a result of supply & demand) in the RSPS and Runescape scene. It's how it works, how it has always been and always be. Look at dragon claws the past few months on OSRS for example:

Yes

yes its cool

He's been grinding fr, more to come.