One website’s value might be in a substantial repeat visitor base of loyal, opulent and themed community members.

Another website’s value might be that it sits on a one-word domain name.

And another again might be that it earns a tidy profit without the owner needing to lift a finger.

So, a valuation can be applied to a business using existing models together with conceptual ideas, but in the end the true value is likely to be in the way the buyer can use it — and a buyer should seek to exploit this valuation difference by purchasing websites that have a greater value to the buyer than they do to the seller.