I'll take the opposite point of view. It's Alden Color #4, which Alden does not produce any longer. Also, the 4x4 shoe was produced in a small run. Unlike Color #4 boots, this is a less common style; although it may not be attractive to everyone.
I think the price level for starting bids is near where the market has been for this sort of Alden shoe. I would not buy them, but I have passed on and sold Color #4.