Talked to a gentleman today about purchasing his site. Does about $50,000 per year on about 35,000 visitors per month. He wants $500,000. Way too much, but it's definitely worth quite a bit more than $50,000 to him. It's nearly hands free income. Barring any medical or family emergency, I'd question his sanity even if he sold it for $100,000 (24 months x earnings).
The task at hand now is to uncover what it's truly worth & convince him that my number is a fair price and that it's more accurate than his. Hopefully he's got quite a little wiggle room.