I don't think all of them are over-priced, and some of them aren't really "projects" in my book.
If they are overpriced they won't sell - so what?
Just scan the H+H ads and there are plenty of over-priced horses on there as well. I can't really understand why H+H posters go on about Project Horses website in this way, the owners of the site had a good idea and have helped a lot of horses to good homes. The owners of the site can't really control the prices that SOME of the advertisers choose to put their horses up for.
I think the project horse site has become just another advertising venue for some people so they are putting horses on there that don't really classify as projects and pricing them accordingly.
Many people think putting a good price on a horse will guarantee it a successful home, which I don't think it particularly accurate. Most of the people who are experienced enough to help a horse in trouble are also well aware of the risks, time and expense involved and have budgeted to spend accordingly. For whatever reason they don't want to spend the initial outlay. But unfortunately what happens more often, I think, it that people spend initially without proper thought to what rehabing a horse might cost, simply because they "love" the horse and want to "save" it, however unsuitable it may be in any way other than price.
In other situations I think it's a case of people either wanting their money out of a horse - on the misapprehension, I guess, that horses appreciate like property rather than depreciate like cars if they're not actually improved - and/or feeling that they need to rescue the situation on some level by getting enough money out of it to buy another, non-project, horse.
I guess if people are getting those prices, good on them. I wonder if they are, though.
I know it can be really tough for people to admit that a mistake has been made or things are not working out as hoped for but honestly, I'm surprised more people don't see the wisdom of cutting their losses a little earlier in the game. OR, the other option, investing in improving the horse so that they can accurately gauge whether or not to keep it and, if not, provide the horse with a chance of being sold on to a good next situation.
The thing of it is, bad dynamics are bad for everyone concerned. Horses that are behaving badly - or worse, dangerously - are rarely happy and content in the situations any more than the people are. I do think loving something does sometimes mean letting it find a suitable situation and putting its welfare before one's own ego.