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
I like Zaikesman's idea but forsee one design flaw- what if the other party does not leave feedback? Perhaps there could be a time limit, so that if only one feedback is posted, it would eventually be "published" after the other party has "waived" their right to submit feedback.
Good addendum, SW - this sort of provision had occurred to me when pondering the idea before, but I forgot to include something about it my post. Anyone perusing a member's feedback, who cared to crosscheck the feedback that member had left for others, would be able to infer from its absence that the member was not timely in posting theirs, or just didn't care. And a member posting negative feedback honestly would remain protected from arbitrary tit-for-tat reciprocation, since any lack of corresponding feedback would imply that the non-posting member had nothing critical to report (otherwise we could assume they would have felt motivated enough to do so), and that could be taken as a 'virtual positive'. I think 30 days from the submission of the initial feedback ought to be a more than sufficient 'quarantine' period.
Agreed. I have not posted negative feedback on one transaction because I believe that it was probably a "one-off" sale and did not want to start a feedback war. If this feature was available, I could have posted an honest statement in case I was wrong in my assumption.