ebay is a jungle or thick forest where more often than not 2+2 equals 5

Setting up grace period is a very bad idea and you are being a little too paranoid. Granted theirs always going to be scammers on any site not just eBay, just have to be smarted then they are, but don't deprive yourself from a sale, or make it harder to get a sale or stop selling on eBay due to a idiot, as I know alot of people have done, which is stupid because they take alot less and it's alot harder to sell elsewhere, due to lack of traffic and in the end, you end up losing in the end. eBay has it's purpose, just have to take it for what it is.

Best to make sure that they are a verfied buyer with address, if transaction is over $250 get signature confirmation and that they have feedback, if they do ship the item right away, don't hold a item for 5 days, just ends up pissing off the buyer and then your asking for a negative feedback rating, plus if you put that you do 5 days hold in your listing as terms you actually attracting trouble and scaring potential legitimate buyers from your auctions.

Just don't ship to non verifed address, or PO Boxes and if it's a zero feedback bidder be carefull, but Paypal now reviews and hold payment from new risky buyers as of two weeks ago I notice this and you don't ship till you see they clear it. If you follow the rules and common sense, you will more likely be cover under sellers protection, so long you feedback is good. I done over 1000 transaction with some being over 2k USD in value and never had a issue that couldn't be resolve.

Sound advice retrodos.

Selling on e-bay is becomming akin to negotiating a minefield...