Website flipping - creating websites specifically to sell - has become very popular.
As pointed out on Improve Your Internet Marketing, flipping a web site is not necessarily the same as buying/selling a business.
For one thing, with a business, your main concern is, well, the business. With flipping, everything is done and revolves around the end objective of selling the site.
While it's possible to sell a 'brand new' site, generally speaking you want to get as much traffic and/or revenue as you can before listing it for sale.
Holding the site for even a few months while creating traffic or sales can result in a selling far higher than it might be otherwise.
Selling prices that are multiples of revenue are common, and a multiple of 6-12 times revenue is not at all unreasonable.
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