The very first time I heard of this was a blogger whose site I frequented. She sold her website for $100K.

Then I had a friend who had an awesome website and she sold it. She used the proceeds to set up her business selling custom jewelry. I think that was he goal all along.

Finally, I have another that I wrote articles for and he flipped his sites as well.

My son used to buy domain names and resell them.

So even though I've never done this, I know that it works!