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It stumps me as to how people come up with the guts to post some of the sites I see for sale, and even more so all the information (read BS) they provide to explain away what appears as a scam.   The scam being a site that is sold under false pretense, most popular is the traffic source.   A paid-for burst of traffic is the most common culprit - when that burst is sold as some sort of natural traffic.

I just finished reading an auction post for a video game site for sale (flash games).  The claims  were 80,000 views, 30,000 uniques, $80 in revenue per month.

Note that it was listed  July 22.  The “proof” provided were screenshots of January information only.  The poster claims that “The traffic is low last months because i didn´t have time to add new games to the site”.  This excuse may be fine until you consider the site is 20 or so months old, and there are a total of THREE (3) games on the site.   See the problem here?

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Table of Contents
INTRODUCTION
What Will You Learn From This Website
What this Website is Not
PART I – ONLINE ADVERTISING ARBITRAGE: PLAYING BOTH SIDES OF THE ONLINE MARKETING MARKET TO MAXIMIZE PROFIT & WEBSITE VALUE
Basic Market Components
Supply
Demand
Price, Bids, Asks
Elasticity
Pricing
Demand
Supply
Real Arbitrage Example
Online Advertising and Arbitrage - The "Click Thru Value Chain" and Commoditizing the Market
Development, Traffic, and Hedging Your Cash Flow
Part 2 of Development, Traffic, and Hedging Your Cash Flow
PART II: Valuing a Website: What is Your Site Worth?
 
The Headaches Pricing Websites
Historical Growth: Geometric Mean vs. Average
Terminal Value
Summary of Discounted Cash flow Analysis for Website Valuation
Market Value Approach to Website Valuation
A Note on Using Metric Multiple Website Valuation Models