In the lead up to Christmas I have been bidding on a number of items on Ebay. I have been frustrated by the number of canceled bids and ending of auctions early. It seems that if the seller is not happy with the value that the item is selling for that they think they have the right to cancel the item and re-list it int he hope it will make more the next time round.
I thought that bid on an item constituted a legal contract between the buyer and seller. If the seller wants to ensure that they get a certain amount for an item then they should enter a reserve price at the outset of the auction.
It seems that you can no longer pick up bargains on Ebay as sellers simply cancel auctions if they do not archive a large enough sale price.
I suspect that this is due to Ebays affiliation with Paypal that relies on a percentage commission of the sale price, meaning that if items achieve a higher price, Ebay makes more money.
Frustrated…
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