This is a common scam whether on ebay or not. I had just finished talking to my AP/IA about these things on a boat deal he had heard about. Within a month, a guy showed up to buy a Cessna 185 he was helping a client sell. Guy had a Bank of America Cashiers check, and remembered my conversation, so he walked up to BofA, and sure enough...counterfeit.
Consequently, the scam now get's previously innocent people involved as the "mule" too, so the guy presenting the check may not be the actual perp, but a patsy promised a quick $1000 or so just to deliver the check. Pretty sick really, and no serious penalties seem to exist for these crimes.
