Chuck Thoits
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Or is it people are too dumb to take the time to look up what they are bidding on?
Agreed. I've been buying and selling on eBay for over 8 years and only once, in hundreds of transactions, have I even come close to being burned - and that was a minor issue. Now that they have stopped sellers from retaliating against dissatisfied buyers by not allowing them to post bad feedback I think things will get even better.eBay is a service, the screw-ups are some of the people who use it.
I think it has nothing to do with ebay, but with the buyers. Someone might be looking for a tool to use it and to get it cheaper than new, while some other might be looking for same tool because it is the last one he needs to fill a gap in his collection.
That second one will pay even thrice as much as the first one would do because he wants that item badly, if on top of that he gets caught in the bidding excitement/competition things can get out of control.