Hello
skipperdude, my opinion is that you need to approach this vessel as a fun "project boat." Let me explain what I mean - even if it is in perfect condition, the truth is that a ferroboat has pretty much no value on the market. You have to think that you are investing in something that is fun to own and use and it is entirely sunk cost. Do not expect it to be any sort of investment. A used Nordy or Grand Banks could be an investment, but not an esoteric project boat.
If you own and use it for 10-20 years then at the end you might want to just salvage the engine, gear, windlass and other items - perhaps sell all of that for about 15-20k, then just sell off the hull for about 10-20k itself.
If you approach it in that way then make a low-ball offer on the boat, wait 3-6 months and if it doesn't sell then approach the guy again. I know all of this from my own experience both as a buyer and seller of a project boat.
If you could pick up that vessel for 45-50k and it is sound, then you'll be a happy skipper dude.