Appraising Avatar Sites

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There are 10 sites that offer up avatars for for free. Some offer registration if you want to submit your own, others do not. The avatars range in design from juvenile to what looks like high-end art.

How would one go about appraising the value of these sites?
 
I don't know much about those kind of sites or what the avatars may be valued at, but I guess I would appraise the site as I would any other site and first find out how much revenue it has a potential to bring in before moving forward.
 
How much a site would be worth is really a tricky question. Considering that there are about 10 sites with the same niche, perhaps you'd use comparable sales? I'd presume that sites that are almost close in terms of revenue and/or traffic would cost almost the same.
 
Avatars, you mean like these profile images? I didn't think that those websites would provide any high-level art because it's a waste. People mostly go to Google image to get one or use the pictures they take themselves anyway. I suppose if it has high traffic, it can be considered more like a graphic gallery or portfolio, therefore can be appraised like one.
 

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