As the once mighty ship eBay Inc takes on water – company execs are tossing sellers overboard to save themselves. Savvy buyers looking for free merchandise flock to eBay. Inept policies they enacted have become a monster gobbling up sellers final value fee credits on SNAD mediation. September a 4% penalty will be added. 🙁
On top of sellers loosing FVF refunds in SNAD cases eBay will tack on another 4% penalty fee in September. This new policy gives eBay further incentive to side with buyers on item not as described (SNAD) claims the company mediates.
This seller was swindled out of a $6500 Embroidery Machine by one of eBay’s very bad buyers. It’s easy to figure out 10% of $6500 netted eBay $650 FVF. So the seller not only lost his sale proceeds he was billed $650 by eBay. To add further motivation to side with scamming buyers the company will soon be adding on another 4% penalty. This topic on eBay’s community forum discussing the penalty fee suddenly vanished.
It’s very clear eBay has lost it’s credibility and trust that once made it the most popular trading venue online. Gary Alexander published this article on Seeking Alpha about eBay running in stagnation mode, last Saturday after a disappointing Q2 earnings report.
eBay (EBAY) the one-time e-commerce wunderkind continues to plod forward as if it was still a giant of the internet. eBay Q2 earnings showed a company that is continually unable to meet analysts targets. The company failed to accelerate the process of bringing new buyers to its platform.
The good old days on eBay are long gone. The once popular website went from the greatest venue the internet ever knew. To a distrusted place where sellers are used as sacrificial lambs to prop up the companies bottom line.
Not a single day goes by without another seller complaining about being defrauded by eBay Inc. Bad buyer fraud is the monster eBay created by disallowing sellers to leave bad buyers deserved negative feedback!
Personally i doubt the company will make a turnaround anytime soon. On top of very bad buyer return fraud. The eCommerce giant is experiencing a multitude of glitches that effects both buyers and sellers.
So what does the future hold for eBay Inc, you might ask? As Democrats think, more taxes cures anything. eBay will continue to tax their sellers with added fees to continue bailing out their sinking ship. In this strong economy guided by president Donald J. Trump. Many businesses are thriving but not eBay Inc.
Bottom line is – eBay Inc is profiting on buyer fraud. Keeping sellers final value fees in company mediated not as described (SNAD) cases is defrauding sellers. In September they plan on tacking on another 4% in penalty’s. It’s also obvious snad cases are automated when return tracking is received. Nothing but a big money grab!
It is also Fraud. Though at his point it’s probably civil fraud. But the feds could wind up cracking humpty-dumpty wide open raiding the place seizing company records. And lets not forget Wall Streets darling PayPal (PYPL) who handles eBay’s transactions. They could be dragged through the mud as well.
Could this fee gobbling seller / buyer mediation be considered a reason why eBay is switching to Adyen payments. Possibly PayPal is afraid of being indited by the feds along with eBay Inc. Shares in both companies will plummet!