I think that as the event winds up and the traffic increases, it should be worth low to mid $xxx simply due to the fact that the owner will make that much during the season. After that, the traffic and revenues will drop off significantly.
For that, I have plans on turing the site into a "Celebrity" site following the newly crwoned 2007 Miss USA for the entire 2008 season and her life beyond. Try and get a little more life out if it.
I think that with my site, the following of the 50 state races will seriously increase my traffic (think number of state contestants x number of states x local events + 50 winner profiles x Miss USA Pagent + the Miss USA event itself).
I should be able to extract alot of traffic out if it.
At the very least, I will end up with a PR4 or better site that I can then use AFTER the traffic subsides to increase the PR of my other sites.
Making Lemonade
According to your NP$ offer, you are asking $200 bucks for it... I think it's worth it ONLY if the traffic is heading that way. I've got great traffic already, but I think that I'm not willing to sell for $200 bucks at this point. It's worth more than that with the traffic and revenue potential.
I might part with it for $500 - $750 right now because I think that will be about 1/2 to 3/4 of what I'll make with it this year. Next year even more and back to these numbers in 2008. In all, I figure on pulling mid $xxxx out of the domain in the next 18 months. Maybe even 5-figures if I can keep the SEO and traffic going.
GoPC