If you're the high bidder on an item and you decide you don't want it, then notify me immediately that you wish to void the transaction. I would like the chance to offer the item to the next-highest bidder, and eBay saves bidding histories for only a short time.

My policy differs from eBay's, which states that winning bids can't be canceled and are legally binding. I allow cancellations for two main reasons: I don't want to sell an item to someone who doesn't want it, and I don't want to waste time nagging people to pay up. (Also, it doesn't make much sense to allow returns but not allow bid cancellations.)

I can readily accept a buyer's change of mind; what irritates me is a buyer's failure to tell me that he has changed his mind or to give me a reason why. Buyers who don't respond to my e-mails or don't follow through on promises to pay get an automatic F on the buyer's eBay report card.

I will submit negative feedback for a non-payer if I feel that the bidder is acting capriciously or maliciously (regrettably, I have encountered bidders who abuse the system with malice aforethought). In all cases of non-payment, I file a non-paying bidder alert and request a final value fee credit. These steps are necessary for me to recoup my eBay fees.