I noticed when listing these two academy shops only the second shows
the "The shopkeeper will purchase:" line.

Wasn't sure if that meant he will not purchase any items or a bug?

<100%hp 100%m 96%mv 1400tnl civilized 11 AM> list
The shop's hours are 12 AM until 11 PM.
Item (Type)
< 1 122> a pair of fine leather sleeves (worn on arms)

Molnar tells you 'See anything you like? A lucky thing you came along.'
Jaham tells you 'I'm also interested in doing some business.'

<100%hp 100%m 96%mv 1400tnl civilized 11 AM> list all ja
The shop's hours are 12 AM until 11 PM.
The shopkeeper will purchase: thief tool treasure map trap ingredient poison ingredient

Item (Type)
< 1 109> a traveler's ring (treasure)
< 1 87> a wide copper ring (treasure)

Jaham tells you 'Would you like to browse anything further?'
Molnar tells you 'I'm also interested in doing some business.'

Not every merchant cares to purchase, at all.