The new face of pharaoh

eBay sellers are unimpressed — indeed, rather livid — by dauphin CEO John Donahoe's proposal to reinvigorate the company.

Per the proposal, eBay shall lower upfront fees for listing items and raise the percentage it takes from each sale. Donahoe supported the proposal by stating "sellers prefer this structure."

eBay says the new model will consequently lower fees for 60 percent of vendors. But Ina Steiner, author of the Auction Bytes blog, argued the new model could raise fees 33 percent for many sellers.

Wired reports sellers are calling for "a mass exodus" of "feebay," a nickname (and movement) sparked by a craigslist post.

Updated fees are not the only topic of seller chagrin. eBay vendors are also upset about a new feedback system, which does not allow them to post negative feedback about buyers.

The feedback system was updated after buyers indicated to eBay that "retaliatory feedback" was one of the strongest reasons for not using the site.