To me the seller can raise his price any time he wants. A deal is made when a buyer offers to buy at a certain price and the seller accepts and sends payment information. That said, it would be in poor taste to list a card and then not accept an offer within a few hours. Likewise a buyer shouldn't expect to buy a card that just closed in an auction much higher than what a card has been listed at. This is a mostly collector to collector site and we should try to treat each other fairly and not try to take advantage of the other person.
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