I have a Pfaff 7570, which is just like the 7550 except for a few upgrades. I have had it for about 7 or 8 years, and love it. We bought it used for $1,000, and INHO $500 is a fair price for it, as it is a great machine. It is my go to machine. I do have 2 newer machines, but my Pfaff is my specialty. Go for it, you won't be disappointed. I love mine.