[csh0]

FWIW, eBay no longer works like this. When you put up a listing there’s now an option, enabled by default, to require payment at checkout.

This situation may still occur if you are taking offers on an item. In that case the buyer has to pay within 48 hours of the offer being accepted or the listing will become eligible for re-posting.

[Cthulhu_]

Our national buy/sell platform (aquired by ebay twenty or so years ago) has a similar system now where they will handle the payments and exchange of currency on confirmation of reception of items etc, I believe it's very successful, but they had to do something because nobody was trusting the site anymore for trading anything valuable.