For certain spells like Torpor, the price is derived largely from the return on investment you can expect from having it, rather than rarity. A shaman with Torpor makes dramatically more money than one without Torpor, which means the spell commands a very high price.
You can see the same pricing effect across classes--there's no (known) difference in drop rate for Enchanter spells and Cleric spells, but Enchanter spells nonetheless frequently command prices up to 10k+ while Cleric spells are a pittance. This is because Enchanters make a lot of money, while Clerics generally do not.
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