I've been a seller on eBay since 2000 - I deal chiefly in books - but I've sold a little bit of everything from baby clothes to collectible dishes & pottery to all kinds of media to just plain weird junk.
I've done A LOT of buying, as well, and have never been ripped off, as yet. But, I always thoroughly check the seller's feedback, their return policy and (very important!) their shipping costs before buying. If they don't have a shipping quote, or at least a calculator on their ad, then I generally won't bid. If it's something I want badly and can't find from another seller, then I will contact the seller and ask about the shipping before bidding. Gouging on shipping costs is a fairly common "scam" that a loophole in eBay policy allows some sellers to get away with.
Overall, it's my impression that the vast majority of sellers and buyers on eBay are honest. As I said before, I've never been ripped off by a seller and out of thousands of sales, I've never had a buyer's check bounce nor had my Paypal account charged back.
Maybe I'm just lucky but I've found eBay to be a very profitable and gratifying venue for both buying and selling.
And Chi is absolutely correct about the starting prices you see on some items. Don't let curiously low prices fool you. Very often auctions are watched by savvy bidders who will bid only in the last few hours to try and get the item at the lowest price than can. Early bids attract a lot of attention and tend to encourage more bidding on an item. And then sometimes you may find a seller who simply doesn't know the value of what they have. Always check feedback and ask questions. A good seller will be prompt, helpful and not offended by questions that may belie your valid concerns about their honesty.
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Most people go through life dreading they'll have a traumatic experience. Freaks were born with their trauma. They've already passed their test in life. They're aristocrats. - Diane Arbus
PESSIMISM, n. A philosophy forced upon the convictions of the observer by the disheartening prevalence of the optimist with his scarecrow hope and his unsightly smile. - Ambrose Bierce
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