[Simon]

Okay, I can see that it might be much like investing in any risky business. I understand about how the whole biz could blow away from the wrong winds. I'm just still trying to get my head around why someone would sell at that multiple unless they were having a fire sale. Seems like in almost all cases, someone would be better off just keeping the site and letting it generate that same amount in a few months.

I have no objection at all to disclosing the site names, but I did want to keep this a more general discussion of "how" developed websites could be valued. I'll drop you a pm in a minute with site urls.