Sure it can be both ways.
Besides you can't sell the site w.o. content because the rebills would flatline and I also think that's against CCBills terms to sell a membership and then yank all the content away. You would be violating the "agreement" you made with the buyer.
The reality is this:
If you can't sell your site for what you are asking, you are asking too much. It's simple
business acumen.
That's just the thing. If you product comes with X amount of members generating a certain amount of revenue, you can't remove all the content and then think that revenue is going to be maintained for the next x months the buyer needs to recoup his investment. That won't happen.
So if your site has 10000 scenes, then that is what you needed to generate the X members. You can't just yank the scenes and go: Up until now, I've had this amount of members. So you can buy the shell and the members, but not the content that comes with it and that I used to generate the members.
And it isn't just 10-14 months of turnover, that might be a good rule of thumb but every single paysite you buy you need to evaluate differently and every buyer is different because they don't all operate their paysites in the same way.
As I said in the beginning, there is only one short / right answer to these kind of questions and that is what someone is willing to pay. If you are worried that you are selling to low, price high and reduce the price.
Or use a broker, I can recommend hitting up someone like Baddog. I am sure he can help you put a price tag on and sell it
