I have the opportunity to buy a specialty automotive forum. It's small (about 10,000 members) but it's very active and the average post count is high. The owner wants to move on and is looking for a buyer.
I'm not planning to get rich off this thing but right now, I think the forum is under-monetized. All he has are ad banners and sponsorship.
So my question is - how do you value this thing? Anyone have any experience buying or selling an online forum? How did you come up with a fair price?
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