Yes, it happens more than people think it does. I have not had it happen first hand really. I have had things I paid for not get sent and had to do the long PayPal process of a refund. Back then, partial refunds were normal  - not full! Its much better today.

If people REALLY think something is worth X, then they need a reserve. If it starts at $1 prepare for it to sell for $1, that simple.

On a side note, I am selling a Color Classic. But I hate to ship since they break up so easily. And I am looking for more than 66 euro.