Item Prices - Representative of Value?

Do the prices shown on items in-game actually bear any resemblance to the actual worth of the item because they don't appear to to me. I am however notoriously stupid and may be wrong!

Any views?

The trade market determine the prices of the items not the price that is on the item.

Yeah I know that - but just wondered whether the price on the item was in any way representative of it's worth because it doesn't seem to be to me - wasn't sure whether I was missing something!