Trapping in CO for profit in nearly impossible these days. The only legal traps are live traps. You cannot legally use leg holds, conis or snares. Haven't been able to in over 20 years. Way back then we had a spring bear hunt the bunny huggers hated and they got enough signatures to put it on the ballot. Since CO was being invaded by transplants from CA, the measure passed because 6 front range counties wanted it to and the rest the state couldn't outvote the IDIOTS. As a rider to the bear vote, the bunny huggers added on trapping for good measure. So, CO lost both at the same time.
Back when I was a kid growing up there I ran a good trapline for fox, coyote, bobcat and a few muskrats and coons out on the plains. We used to go to the high country for a couple of weeks during winter break from school and set snares for pine martin. We made some decent money. But live traps make it impossible to run enough traps to make it really worth your time.
I don't know what the going rate is for bobcat but I really doubt they are going for $700 or higher. When I sold fur bobcat went for about double or double and a half what good coyotes went for. I'm guessing $175 would be about max but I may be wrong. If you want to know the going rate, check out NAFA (North American Fur Auctions) since they are about the biggest fur buyers in the nation. Normally the results of last years averages will be posted.