Here is a bit of info on your friends guitar.
- single rounded cutaway classical body, solid cedar top, round soundhole, abalone body binding, abalone rosette, rosewood back/sides, mahogany neck, 12/19-fret ebony fingerboard, open-style headstock with three-per-side gold tuners, tied ebony bridge, Equis Gold electronics, Fishman Matrix transducer, available in Natural finish, mfg. 1996-97.
Grading 100% Excellent Average
N/A $550 - 650 $325 - 450
Last MSR was $1,400.
With a blue book top end of about $650 and a very soft market, particularly for classical guitars, $700 is going to be tough to get. Good luck