Buying “established” websites

When I look on ebay and see literally hundreds of “established” websites for sale, I wonder how so many people could be sucked in by them. Most of these sites have only been in existince for a matter of days and at the best couple of weeks, but people continue to pay good money for them, in the belief that this will lead to their retirement from a nine to five job and all they will have to do is sit at home with their feet up and watch the money roll in. Most of these sites are just templates or linked to an affiliate program.

I think their money would be better spent on hiring someone to develop a site just for them.