For sale: world's smallest country

News.com.au reports on this story. So this British Army major took over an old fort off the coast of england and declared it his own sovereign nation. They have written a constitution, created a flag, currency, a national anthem and other typical things that go along with sovereign nations. Now forty years later, his son is apparently interested in selling the whole thing to rejuvenate the country. I'm not sure how this will have that effect, but it certainly makes for an interesting news story.

Sealand, as it is called, has even defended itself against hostile takeover, kidnapping/coup attempts and the like. Their national status has been called into question many times, but apparently since they are out past the three mile mark from the coast of england, they are not subject to its rule. Thoughts?