Thats not at all how it works. You CAN get titanforged gear with ilevel ranges from +5 up to +75 with 5 ilvl brackers. If you are VERY lucky you can get a high item level piece from LFR, it wont automaticly scale to your ilvl. The only loot that will keep scale up to your ilvl is world quests.
And selling loot is already in full effect right now and have always been, right now on my server a full HC HFC clear with all gear to you is around 100k.