I'm embarrassed to add on yet again to my already long post. Just wanted to mention that I did a search of completed listings on eBay for the sewing machine and came up with this "sold" listing for a Babylock Sophia:
http://www.ebay.com/itm/Babylock-Sof...wAAOSwLVZVz5EI
If your machine is similar, I would think $350 would not be too much to ask.