I don't see why not.
I bought Analog Lab about 1 year ago and then I upgraded to V8 collection when they had the last deal some months ago and then I sold my Analog Lab license a couple of days ago here in the buy & sell section.
The one thing that might be an issue for some is that if they had a license for Analog lab 4+V, I think they'll only be left with Analog Lab V after they get the V8 collection, if they sell their individual license for AL 4. I've read here and elsewhere that some people prefer 4 over V. For me, it didn't make a difference, so I happily sold mine.