I've seen that happen as well. It is fairly reasonable, in the right circumstances. A +3 keen holy greatsword is worth about 50000 gold; they can sell it for 25000, and that's a fairly big pile of cash. They can use it to purchase other items that they need more urgently. IMC, this happened with a very powerful armor which they found; since there were three members of the party in need of a new armor, they decided to sell it for a hefty price, and use the money to craft three decent armors for all of them. The net result was fairly good for the party overall.BlackMoria said:Now, our group has a different sort of problem - they sell around 90% of the magic items they acquire. Recently, they acquired a +3 keen holy greatsword. Now you would think - wow, that's a keeper, since the weapons they had were only +2. Nope. They put it to a vote and decide to sell it off and split the proceeds. They have done so with other highly attractive magic items as well.
Go figure....

(Dungeons & Dragons)
Rulebook featuring "high magic" options, including a host of new spells.