M_Boats: M9 at $700...is it a good price?

Since I'm thinking I'll be mooring Griselda (M17) in Mission Bay (only about $650 a year or so), I've been looking at the M dinks. I found this one: http://orangecounty.craigslist.org/boa/2236276096.html It seems a bit steep, even at $700 (which is what he'll take for it). I've seen a couple for sale for $500 and the guy on here just sold the M10 for $450. What does everyone think?