YW has it list at $369K. That is a lot of bucks for a 40 year old boat even if it has been brought up to like new condition.
Yes it is. I remember recently seeing a 48LRC that had extensive work done, and a pedigree of extensive cruising history for sale in the $300K+ price range.
That looked like a VERY nice example as well, and it sat for sale for several years.
The problem is that people that want passagemakers and are seriously considering an older boat like a 48LRC or even a KK42 are budget orientated. That makes great examples of these boats, at great example prices sit on the market. They are just beyond the budget of the folks that generally buy them.
Other more expensive models say in the >500K range are bought by a different demographic that has a larger budget, and I've seen these boats appear to me to sell faster.
Couple that with the drop in price of N46's over the last few years as the fleet ages and you have more competition in the $300-$400K passagemaker price range.
Personally I think that a boat like the one Steve mentioned is a great value, but then again I am budget orientated myself.