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The fee will be included in the item price from private sellers, so there are no surprises at checkout.
Buyers will pay up to 4% of the item price, plus £0.75.** For example, when they see an item for £20, the fee of £1.49 will already be part of the price.
The fee is lower on higher-priced items over £300, and there’s a cap on the total amount they’ll pay.
For items from business sellers, they’ll get the Buyer Protection benefits at no extra cost."
So if I understand this correctly the cost is now moved to the buyer (LOL), I guess that is inline with other (real) auctions houses but I guess eBay are not making enough dosh with the move to "free selling" so in effect have just reversed the charges.
Edit: Added some extra new T&Cs:
"Now, to give your buyers even more confidence when shopping, UK-based private sellers will be paid after item delivery, from 4 Feb. Your funds will be available in your eBay balance two days after delivery confirmation.*** We know it’s important to get your money fast, so we recommend using a tracked delivery service either through Simple Delivery, or arranging for local collection."