How do you evaluate the price for an established website that you want to sale? What you take into consideration?

I list some points here, hope they will be useful:

Who visits:
How many unique visitors does it get?
What are the demographics of those visitors?

Is it a good business proposition:
Does the site make money?
Does it hold a unique niche in it's core market?
Does it have a lot of competition?

Useability:
Is the site easy to navigate and does it's organization make sense?
Is it's URL easy to remember?
Does it have a lot of unique, valuable content?
Is that content current and is there a process to continually add more?

In other words, does it have value overall? If it's a new site that's been build but has no traffic and there's lots of quality, established competition to it, there's probably very little value. If it's a unque site with a lot of highly targeted traffic and a lot of page views that generate a substantial ad revenue, then it's value will be pretty high.