Quote from: btc4beer on June 08, 2011, 12:21:16 AM

How does the buyer protection work?

For instance, there's an iPad 2 up for sale right now with a min-bid of 5btc. At the current exchange rate, that's a really cheap iPad 2. If the auction closes and the exchange rate doesn't fluctuate enough for that person to make as much of a profit as they were probably hoping, what's their incentive to follow through?

Is it simply an escrow mechanism so they won't receive my btc until I approve it, or something else?

(I'm very tempted to start bidding on the serious items, but I don't want to get scammed and this sort of thing is prone to that.)

If the buyer claims he never received the item and the seller doesnt have proof of shipment (tracking number, delivery confirmation) then the bitcoins are returned to the buyer.