More and more sites are being sold on "Perceived or Future" value. Take this one for example. I paid WAY WAY more than 10X monthly revenue but I still think I got a deal for the property I own.
Other sites that are being sold for way more than monthly revenue are when the buyer sees that the site could be changed and profitable so the current monthly revenue isn't accurate as it's not being near optimized type thing.
End of story? You can sell anything for the highest price the market will bear; luckily it just takes 1 person from that market so as much as you can get.
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