Ebay is a good place to buy, and a bad place to sell.
It's good for buying because if you know your product you can pick up bargains, especially badly-described or badly-photographed stuff.
It's bad for selling because you can lose heavily to one scam, as itsmedunc shows. Ebay seems to favour buyers rather than sellers. The 13.4% is pretty close to what many small guitar shops charge on commission sales, though not all charge 15% flat.
I had Fender Marcus Miller on eBay this month but took it down when I went away for a week. The £795 price tag was a bit strong, I'll admit, but just as in karlfer's example, a sale would have left me with less than £660. Which is less than what it owes me. It had 800 views and 25 watchers - not sold!
For commercial enterprises, the rates are relatively cheap and make a lot of sense, but not for the private seller.
I see a fair few basschatters have been using the Bass Players Market on Facebook. Does anyone have experience to share?