Some sellers are concerned that by opting in to Guaranteed Delivery, they are setting themselves up for a fall.
They feel that they are raising buyers’ expectations by guaranteeing to deliver the order within three days. That risks negative feedback not only if the delivery is late, but also if the buyer considers anything at all about the order to be less than perfect. This is a valid concern, and no doubt based on experience for some sellers.
However, expectations are already raised for the millions of eBay buyers who have shopped on Amazon and other websites. Guaranteed Delivery is a reaction to the overall ecommerce environment and, like most eBay programs, completely optional.
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eBay removes negative or neutral feedback regarding late delivery, but does not protect feedback on anything else.