How much is an email list worth?

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I know there are a lot of factors including the niche, age of the subscribers, etc. that go into determining the value of an email list. But how does one go about it?

Let's say I have an email list of 100,000 website owners, all acquired in the last 2 years. And I want to sell it. How do I value this list?
Let's also assume industry averages for open rates (30%?) and click throughs (2%?)
 
@Hanuman, it depends on what you want to do with the list. If you want to promote from it, you can find out the industry standard CPMs per send (so X amount of dollars per thousand people on the list). This will be easy since you have industry average metrics. It's treated just like any other advertising campaign, but typically a bit higher CPMs, which is good for you. You just gotta be careful about not burning the list out with crap offers and continually replacing the members you churn after each email. You'll lose subscribers each time, which is fine, because you end up with better conversions for the advertisers. But you don't want the list to keep shrinking either.
 
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