I did a small study of make money online blogs and their sales… damn, they’re worth a lot!
SiteFever.com - $1,500
RyanShamus.com - $2,500
SEONoobs.com $4,500
BloggingFingers.com - $6,000
OneMansGoal.com - $8,600
BlogohBlog.com - $10,000
Cashquests.com - $15,000
To me, blogs are useless without the person running them, but what do I know. According to a long ago study by 45n5, each subscriber is worth $30… I swear, I’ll get this blog to around 40 subscribers and if anyone would like to purchase it from me for $1,200 there, feel free to do so 
What do you think - are they worth a lot, or is it just a passing fad?
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I think it depends on a couple of factors. First, it can be valuable to the specific audience if only for the posts made by the originating owner. Once it changes hands, they may not have the love for the blog they once had with the previous owner. But more importantly from a buyer’s point of view is the active target audience; if they are going to get a large captive audience to which they can market to regularly, I can see how the value of the blog may raise.