It's against the Blogger TOS to do so:
http://www.blogger.com/terms.g
Quote:
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7. No Resale of the Service. Unless expressly authorised in writing by Google, you agree not to reproduce, duplicate, copy, sell, trade, resell or exploit for any commercial purposes (a) any portion of the Service, (b) use of the Service or (c) access to the Service.
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However, they would be unlikely to find out if you did so. It might cause you problems if you were selling a single blog from an account with many.