Are "was" prices real discounts?
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The Trick: What's the catch with "Was $200, now $99" tags?
The "was" price may rarely or never have been charged. Reference prices can be inflated so the discount looks huge. Regulators have guidance on fictitious former prices for this reason. Source: FTC – Guides Against Deceptive Pricing
Why It Works: Why does a crossed-out price work even if we doubt it?
The first number anchors our sense of value. Anchoring: the first number we see pulls our judgment, even when we know it's arbitrary. Source: Wikipedia – Anchoring effect
How to Spot It: How can you check a "was" price?
Look up the item's price history. Price trackers show whether the item ever really sold at the "was" price, or sits on permanent sale. Source: Wikipedia – Anchoring effect