Jeremy of Ensight is going to hold an auction for a hugely popular blog that is (almost) always on the Top 100 (except that of Technorati).
The blog is still unknown yet to the public but those who are seriously interested to buy it can get additional info from Jeremy. The blog is PR7 with 150,000 pages indexed in Yahoo/MSN and 60,000 in Google.
Current earnings for the blog is $2,000 a month from ads so it will take you at least 20 months to get that $40k back. Some speculates the anonymous blog is Google Blogoscoped.
If 20 x monthly earnings is one way of sizing up a blog’s potential market price, then mine would go somewhere betwee $8,000 to $9,000. I’ll give you a discount since I’m only PR5. 
*jk*
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i wnt this blog for 40$