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I have a 94% phys damage boost and it's still a Act 3 item, when you get into Cruel difficulty you have item level 45+, and in end game its 70+.
As you hit higher tiers, the modifiers are higher and more types are available to fit inside old gear types (a bow that has double the modifier for extra projectile).
But is there another way to check a price for my item?
Or is this the only way to check market for this item, check stats if I have a better item?
Since you keep getting messages for that bow then you can assume that it is popular for some reason. Since it's a weapon there's a few areas to start with: Tiers of affixes vs weapon level, the implicit on the weapon, raw physical DPS, elemental DPS.
That bow in particular is probably exceptionally good rolls for it's level as it has a variety of desirable traits on it. Given that bows are generally used by Ranger you can see what is currently meta. I see a few that seem popular that are gas arrow, gas grenade, explosive shot. Here is their recommended stats on the bow from the 3 guides I randomly found:
(Same for all 3)
+ Levels of Projectile Skills
% increased Physical Damage
% Attack Speed
Adds # to # Physical/Fire/Cold/Lightning Damage
% increased Elemental Damage with Attacks
As you can see your bow hits most of those marks so it's probably popular because of a meta build. I'd start with similar stats on the bow around the level of the item and price around that.