I agree with you, Jim.

I wouldn't pay the $5000 for the only Ovation Adamas 1598 currently listed on EBay (used, no less ). But maybe one of the 47 watchers will. Until then, the guitar will sit just as you say. For guitars or anything else, a transaction price is the amount the buyer is willing to pay which the seller is willing to accept.

Fortunately, my Google Alert tipped me off to Sweetwater's 'willingness.' I doubt I would have found the listing without that help.

I suspect a lot of guitar pricing we see is optimistic sellers trying to flip the instruments for profit. Without provenance or the benefit of an old date of manufacture that's a very difficult thing to do for otherwise mass produced guitars.