A lot will depend on the importance of the individual being sold, the state of the rest of the team and who they can get in as replacements.
You look at both the Suarez and Bale situations, they were a one man team for large periods before their big sales so they were always going to be very difficult to replace as the rest of the team needed a lot of work, both wasted that money for the most part, though Spurs have eventually put together a much more complete team than they had with Bale around, thanks to even more signings and a new manager. Liverpool are still in a mess, still $#@! in defence, unbalanced as $#@! in midfield and no longer have a worldy up top to dig them out of the $#@!.
At Wolves level it shouldn't be such a difficult problem to overcome, Afobe is a good Championship player but he's certainly not a player that's going to drag a whole team up on his own in the way that Bale or Suarez have done in the past, he's very reliant on service and he has been getting precious little of it at the moment. I don't think he's anywhere near as important to the team as Bale/Suarez were at their previous clubs, despite being arguably the most able player in the squad, if Wolves could shore up the backline with some fresh faces and give the midfield a bit more freedom to attack then ALF should be able to do a job until the end of the season when you get Dicko back and see how the likes of Enobkhare have developed.
The big worry for Wolves though is the recent history of recruitment, as much as I think there are upgrades out there within price range, I really don't think Wolves have the personnel in place to find them.