Paid Content reports today that Stratim Capital has "bought almost the entire position of an existing shareholder" of Linden Lab, maker of Second Life (tm).  Further they advise that it is not a VC, but an individual investor. So what is interesting here would be the value of the sale and the rationale for the valuation. Of course none of the private parties want to share that information. And Linden hardly ever shares anything, so no expectation that they will divulge this.

But, in general, now would not be an ideal time to sell shares in anything unless 1) you had to for personal financial kinda reasons or 2) believe that even a depressed value is better than what might get worse. Certainly you wouldn't sell if you believed that Linden Lab would go public soon for a massive valuation.