Chris-These cars that get relisted because buyers walk away...where is the negative feedback for the seller? The car comes back on the market, seller still has 100% feedback...it doesn't add up. Plus, the bid means you buy the car, not schedule an inspection and decide later. If a deal doesn't happen then someone is in trouble.
And someone dumb enough to buy one of these cars sight unseen at $25K suddenly gets smart when they see the car?
There are a lot of sellers using ebay for advertising and making deals outside the site, listing over and over at "no reserve" and waiting for the buyer willing to pay what they really want.
If folks enjoy watching, that's fine but don't think it's really a 7 day auction and that's it.