Sounds like sour grapes to me.
When you list with no reserve, you do run the risk of not making a dime. As for the seller doing something wrong...absolutley not. When you have an advertised price, that is what you would set a "buy it now" option at. When you start and auction with a low opening bid and no reserve, the market determines the price. If you thought $119.50 was a good deal, you should have bid. I bet the guy who bid $119.50 would have bid again, and the price would have climbed. It takes two bidders to drive up the price of an auction. If there only happens to be one bidder left in the game, he gets a deal, and the seller takes a loss. Been there, done that. You cannot accuse the seller of accepting a lower amount than advertised. The only thing he accepted was eBay's rules when they stated that when running a "no reserve" auction, you are committed to sell to the highest bidder when the clock runs out. The seller has no say about the price in this case. Personally, I hate reserve auctions. I am more likely to bid on a "no reserve" auction. This is true of the majority of buyers, and most sellers know this. This is why most are willing to take the risk of running a no reserve auction when they are fairly certain the market will generate a reasonable sale price.
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Jon (in Ohio)
CHROME WON'T GET YOU HOME!
F.O.S. Proud Saw user...see profile.