Yes, this is something i have done before. It's good to package a design with a script, domain and some hosting and bundle it together as a "full site" or "business". If you can design/code and package a decent prospective business and hand it to someone (ready to go) and convince them that it can make money then it will sell.

I purchased a website for $300 a few months ago, i saw it had potential. I went to ebay and sold it for just over $700! That was $400 for doing nothing.

If the design is decent and the idea is good then it should sell for much more than it costs to develop it. What ideas do you have in mind?