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Maybe, 1 in 50 domains held by a speculator ever get sold. So, a speculator may have an overall cost to maintain those 50 domain names to make one sale -- he wants to recoup his entire investment on the other 49 domains he can't sell with the sales price of that one domain he can sell?
He pulls the price out of his ass hoping some sucker will pay his price?
Domains that are part of a ongoing business are worth net profits and 'goodwill'. Business goodwill is a very intangible and a volatile value.
Undeveloped domain names only have speculative value -- what a buyer will pay here and now based on the air of speculation of some future profit to the buyer.
Don't try to apply logic to the domaining business -- there is none.
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