Buying and Selling of feedback


Today I saw the second auction where the seller states something to this effect "if you don't come through with payment on a winning bid, you can give me $xx (or a percentage of the bid) and back out without negative feedback posted. otherwise, negative feedback will be posted.

This seems like extortion to me. Also, aren't the rest of us entitled to know about a deadbeat bidder (via negative feedback)? The posting of negative feedback is the correct recourse for a deadbeat bidder - not a bribe or "fine".

I think this behavior undermines the feedback process. What do the rest of you think?

Just curious.
dozer
Thanks all of you for your responses. This note is to give props to Audiogon management.

I first mentioned this issue to Audiogon several weeks ago over a commercial ad that was running, and I didn't think Audiogon did anything.

I was wrong. Audiogon had in fact notified the seller of what you might call the "perception of impropriety" and that seller has since changed his policy.

Sanctuary of Sound has the right approach I think. I've never been burned on Audiogon - it's a class community, run by class people I think.

I also don't think anyone is doing this with a bad motive. "Extortion" was a harsh word that wasn't called for.
The ridiculous thing about Audiogon's feedback is that if you leave negative feedback on someone that deserves negative feedback they will make something up and turn right around and leave negative feedback on you. At that point there is little you can do about it which is unfortunate. That's the big problem with Audiogon's feedback system. Also many people on Audiogon have friends and they leave positive feedback for each other to make themselves look good.
Feedback, is a product intended to help the Audiogon community. As such one should not have the right to act as a pimp and prostitute community property for individual profit.
Unsound made a great comment about applying a "neutral" feedback. When I see a neutral feedback, I am a little cautious, but I am also still willing to work with this person. I figure they were willing to work out their differences, even though things obviously did not go smooth, they have redeemed themselves for the most part. After all, nobody is perfect!
Bobgates: touché! I am living a situation like this right now. To add insult to injury, I am being threatened with some kind of legal action if I dare tell it like it is. The whole Feedback thing is well nigh useless for the reasons you indicate. Blackmailers have a field day. Cheats can get friends to post. Cheats can invent an Internet alter ego and post positive feedback to build-up their “reputation”. I have come to the conclusion that anyone who claims to be a private seller but has so many transactions it must almost be full-time occupation or at least a very time intensive side-line is a disaster waiting to happen: that person is bound to buy a dog one day just based on the odds and will likely pawn it off on another member and drape himself in the mantle of positive feedback. More on this later.