We have seen many blogs and websites losing their pageranks for selling links on their websites. Why does Google does this? Google’s pagerank algorithm is related to the number of backlinks to that particular page and Pagerank has some influence on SERP’s. To keep the quality and reliability of Google search results, Google needs to keep a check on this. Many webmasters buy links from Websites having high Pagerank and enhance their Pagerank.
How can we sell links without effecting our pagerank.
Google has very clearly mentioned that they do not have any problem with anybody selling links, but to avoid the Pagerank Juice, you need to either use rel=nofollow tag or redirect the links to a page which is blocked from search engine using robot.txt file
But when we use this, its very difficult to sell links as new site webmasters want to buy links from SEO purpose rather than traffic or sales.
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Mattcutts had posted an FAQ about reporting Paid links which has a lot of information and if we follow that we can sell links without effecting the search engine ranking
http://www.mattcutts.com/blog/how-to-report-paid-links/