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1.Yes, the guitar MUST be surrendered or the seller has broken a legaly binding contract. To be honest, it doesn't sound horrible to me at all. That's why i enjoy a free market economy.
2.Ebay is in fact all about risk. It was never designed to be a livelyhood, but rather a place to get rid of what you may not want or need. There is little profit margine on ebay because it's not a high class auction site. For that, things end up on sotherbys.
3.Reserves are there to ensure that sellers don't up in the position you speak of.
4.Remember that if the begining price is to high, people just ignore the item and wait for another to bid on. The bueaty of ebay is in that stament. Supply often exceeds demand, thus creating a fairer market value for the consumer.
Try to remember that just because your example guitar is worth $xxx.xx in you town/city, that has no bearing on it's value in a marketplace where many are availible. Ebay tends to "correct" price gaps from local markets due to the nature of it's marketplace availibility. In a market where many are availible, price inflation for a given market loses justifacation.
And since it ties in, the ability for sellers to withold items for a while to increase there value via demand is called rackatering, and is illegal in nearly all contries.
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Seen on an employer evaluation:
"The wheel is turning but the hamsters dead"
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Is arch13 really a porn diety ? find out after the film at 11.
-Nanofever
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