I’m personally convinced that eBay hates its sellers, an ironic proposition that seems to undermine its primary business model of creating an online marketplace. My personal recent experience had a bidder win their auction for an iPod touch and then … not pay. I sent an invoice, and emailed the buyer, but got nothing but silence. Interestingly, buyers have 4 days to pay, so from 12/12, I had to wait most of the week before I could relist. I finally sold it again on the 22nd, but, what a waste of 10 days. Someone could have bought it in time for Christmas if eBay had a same-day payment policy.
Also, if your buyer doesn’t pay, you can’t submit bad feedback:
Sorry, it’s not possible to leave feedback for this transaction.
Feedback has been disabled because payment was not recorded.
I don’t see how “failure to pay” shouldn’t be a permanent black mark in their feedback history–it’s pretty egregious; sellers have a right to know.