I assume you are looking for a free way to do this, as you are selling. I have an old macbook up on craigslist, and prior to selling, I formatted and reinstalled OSX as a selling point that it was a factory fresh install. I didn't care about the data so much as none of it was private.
Free way to do this, without disks would be to download a Ubuntu Live CD. You download it, burn it to CD, then boot off of it. I've never done this on a Mac, but as it works on Intel PC laptop and desktops, I don't see why it would fail on an Intel Mac.
Also, I guess you could use a windows install CD/DVD. Boot from it, start the install, let it detect the HD, then delete the current partitions and format. Again, never did it on a Mac, but imagine it should work.
Are you then going to sell the device with no OS? Who would buy a device that doesn't boot unless you are buying it cheap for parts?