Ebay
Buyers Retract Bids Freely While Sellers Lose Auctions

"Users who abuse this mechanism by retracting bids because they changed their minds, or because they decided they could no longer afford the item, may receive negative feedback from the sellers of those items. Too much negative feedback may cause you to be barred from future auctions." -Ebay
however, ebay just lets people retract their own bids. It is a major problem on ebay & it's not gonna fix itself. Ebay should regulate retractions. If you want to retract, email ebay & request it along with your VALID reason. If they approve fine, if not, your still have to pay the seller if your the high bidder at the end of the auction. By penalty of law, you should have to finish the transaction. But no. I get ebay member who can retract 7 times in 6 months. Or member who don't respond to email & screw you out of an auction that could've gone to an honest buyer. Ebay need to screen its members a lot more thoroughly. If you retract more than 2 times a week, hell once a week is too much..., anyway... Your account should get a red flag that all members can see. If you retract for not a valid reason, you should get more than a warning. I know its only internet auctions, but, its still a business. I doubt Sotherbys does business this way. Ebay harbors dirtbags & does nothing to screen these people, thus, screwing over honest people just trying to have an honest auction.

Angel
Chicago, Illinois

Company: Ebay
Country: USA
Site: ebay.com

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