I've worked at a company whose motto was "Smoke and Mirrors". They'd try to sell...

I've worked at a company whose motto was "Smoke and Mirrors". They'd try to sell based om the wireframe, but tell the customer it was a fully functional product that just need to be customised for their environment.

I never really saw it work that well for them. Sure they could get a lot of interest but any sales they closed were a nightmare to deliver because you had to develop a system in a timeframe that only allowed some tweaking.

EDIT: what I mean is that it's fine to use the model you mention, but IMO you have to be upfront with the customer about it.