It's all relative till you sell it.
I figure it out this way. I assume (incorrectly) that most boat owners like me can put in a small motor. I just assume that putting in a small engine is not a big deal. To me, it's a matter of finding one, used, for a song and installing it. And if you search the net, you can find one. For 10 grand, you are talking about hiring someone at some ungodly amount per hour to install it, and buying a new motor. Not me. It's all in how you think. Yes, the asking price might be what I quoted, but then some grease jockey might see it as a bargain assuming...assuming...assuming the boat doesn't look like cr**. Example...we have two identical Cape Dories for sale at our marina. Both are priced the same. One is trashed and the other pristine. The trashed boat owner thinks his boat is perfect, and when it stays on the market for a few years, he might realize it and lower the price, but he won't. It will sit on the back lot till he stops paying his fees, the marina will take it over, then smash it. They did it to seven boats so far this fall and every owner thought they had a great boat worth millions. My boaty neighbor could not change oil when I met him. His first impression of my boat was it was a piece of junk. It is. Sort of. Till you look beyond the cosmetics. Slowly he has been learning how to do things, after I showed him easy stuff, like changing his oil, ungloging his water system etc. Now when he had a problem with his boat, instead of saying "It will cost 10 large ones" or hiring someone to do it, he asks me and we confer and I teach him (hold his hand so to speak) and being a smart guy, gets it and repairs his own stuff. He changed. Today, he would probably buy that boat (he has a 30 Catalina) for his son and find a motor and put it in, with my help, for way under $2000, and he would have a good boat.But, had you asked him three years ago, he would have said it was worth nothing, and it was, to him before he learned how to do things himself. You can always put an outboard on it for a few grand. It's only 27'. 10hp should do it. Bought my 10hp for $400.