If you ask me, flat out selling 277 loot won't work very well because people will feel it's not worth the investment this close to 4.0 What you can sell, on the other hand, is the wyrm. Most people will be delighted to pay a fortune for that 310% mount, so that would be your best bet.
Unfortunately, that only worked up until patch 4.0. Now they've taken out epic flying from all achievements, except for Long Trip.
310 gone in 4.0:
MMO-Champion BlueTracker | Violet drake down to 280%?
This isn't the exact thread I wanted, but it explains it good enough. Unless you obtained a mount prior to 4.0 that could go 310% then all mounts are now 280%, unless you purchase the skill.
World of Warcraft - English (NA) Forums -> What A Long, Strange Trip It's Been