Recently I started selling items on ebay. I've been on ebay for almost 12 years and mostly bought items that were great deals.
Had some issues with a few sellers but nothing major, but it never occurred to me, whether I won the auction or did a buy it now, that I didn't have to pay for what I bought until I started selling items. Since June of 2013 I've had 8 buyers that won the auction or did a buy it now that turn around and don't pay for their items. Made numerous calls to eBay customer service to find out why they permit this. Not only does eBay permit this to happen but these deadbeats can do it 3 or 4 more times a year before eBay will do anything about it.
Sold an old cell phone in July, then the buyer didn't pay for it. Opened the useless Unpaid item Report and relisted the phone again. It sold again to another buyer who, you guessed it, decided he didn't want to pay for his item to. Complained again to ebay which by the way was another complete waste of time, they simply don't care.
Item finally sold the third time. Then just just last week, sold 2 items through an auction and 1 through By it Now and what happened you say, only one of the auction buyers paid. This obviously is an epidemic problem on ebay that ebay will do nothing to stop. So if your a small seller like me and you sell an item on ebay, don't get to excited, there's a good chance the buyers won't pay and there is nothing you can do about it and ebay simply doesn't give a ***.
Now if I was a stockholder in ebay and found out that the company I've invested in had a policy that restricted company revenue in the millions of dollars a year and because it has a policy thats created a massive problem with deadbeat buyers, who can do it 4 times a year, I'd sell my stock in a minute.
That might explain why their stock is in the dumper now. The absolute worst thing about this issue is you can't even leave any kind of feedback to warn other sellers about these deadbeats (low61 & gbwalco)and ebay just lets them keep bidding.