MovingOnUp - 5:06 pm on Jul 9, 2005 (gmt 0)

It really depends on the site.

For a site that gets all of it's traffic from a single search engine and all of it's revenue from a single source, I wouldn't want to pay even six months earnings.

On the other hand, a site that has diverse traffic and revenue sources, has consistently grown, requires little or no maintenance, and is in a large industry could easily be worth 10 times annual earnings or more. I have one site like that which I wouldn't let go without an offer in the mid to upper 7 figures.