[Mister X]

I think there are a lot of different factors to consider. With most sites the actual content is worth the smallest fraction of the asking price. Unless it's exclusive content it loses it's value steadily as it ages. A good domain name can be worth a LOT as anybody knows. The actual number of members I would guess would be worth no more than half the renewal value of each membership. That might even be a little high. If a site has 1000 active members, chances are usually pretty slim that there's going to be a 50 percent rebill. If there is actual physical hardware like servers that may or may not raise the price. A european buyer might have little or no interest in owning servers that are physically in the US for instance. Then there's a lot of somewhat ephemeral stuff to consider. Does the site have high brand recognition? Is it already overexposed, like say Bangbus, and starting to slide or is it well positioned to make it possible to grow the site? Is there an affiliate program in place? Is it an active/effective program? Does it have something that would appeal to your current traffic sources or are you going to have to try learning a whole new niche?

I think in the majority of cases I wouldn't be willing to pay more than the equivalent of 2 to 3 months of the site's income. If it's something that you can fit right into your current operation then perhaps a little more. I don't think there are any sites worth millions. It's far too risky a proposition when you are dealing with chance. We've all seen sites selling like crazy and then disappearing virtually overnight. Anyone remember Busty Amateurs anymore? Hehe.