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I find it hard to believe the old owner would pay $300 for the listing
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When one antes up for a paid submission in Yahoo, they agree to an automatically self-renewing annual fee of $299. If a webmaster does nothing after being accepted, they will be charged the 3 C-notes every year. (Cancelling one's Y! directory submission is somewhat of a tedious process... more than just clicking on a "cancel subscription" button.)
My point is, the old webmaster may not even
know they took care of the bill.

I mean, if you look through the Yahoo directory, it doesn't take long to find dead commercial sites... make ya wonder if they're still paying...
Cheers