I think it depends on the bass. If it's something you can get anywhere, it will need to be priced accordingly.
If on the other hand it's rare, hard to find, old, etc, someone somewhere is going to be wanting one, and if they find it, and have the money, they are most likely going to buy it, and while they may feel they paid too much, the price won't even enter into the decision, at least not as a deal breaker if it's "the one".
I paid too much for an old Ithaca Model 37 Deer Slayer shotgun a while back because it was a presentation grade in like new condition and was an early model that does not require the trigger be released between rounds. You just hold the trigger, pump, and spray. Not anything particularly special about that feature except the (relatively) small production numbers of guns that had it and I just like the idea of being able to do it. I had to decide to either pay what I thought was too much for the gun or let it get away because the guy who had it is in the business of buying and selling old guns so if I didn't take it, he'd just keep calling people until someone did. Had I been able to go down to the local sporting goods emporium and pick up the same thing from them new in a box I'd not have given it a second look, but because it's something I wanted and may well never see another example of, I took it and was glad to get it even though I believe I paid a bit more than I should have. Since I have no plans to sell this shotgun it really doesn't matter what I paid so long as it didn't cause me trouble with my money.
So an item being overpriced I believe is as much a matter of it's context to the market as a whole as it is the actual relative value as an individual piece.