My take is that it is a overpriced market but then you can get some useful decorative stuff there hence you find people flocking there often.
Recently, myself and wife went there. A plant potter caught the attention of my wife. The price quoted by the seller was Rs 3500/-. After multiple negotiation the seller agreed for Rs2300/- however i still felt it being overpriced and i asked wife to move on as i didnt wanted to pay anything above Rs2000/-.
It was then the shopkeeper spoke in their local language among themselves and i picked up that they bought it for 1500/-.
This really zapped me as they are trying to make abnormal profits(more than 50%) here and claiming we are not saving anything, selling u at cost n blah blah..
My 2 cents, go to the market, explore and bargain hard.