Hi sridhar (vsridhar1178),
Thanks for your suggestions. At eBay you have the option of listing a product for 3 - 30 days. Normally, sellers prefer to close aucitons within 7 days (since both buyers are sellers are eager to complete their purchase).
For Buy it Now items, sellers who wish to list for longer duration can take up a shop on eBay and list the products under shop format. Shops not only allow you to list for longer duration, it also works out cheaper. For Shop listings, you pay Rs 1 (for goods with starting price of <2000); for 30 days. However, the trade off is that your items are featured at bottom of the search results page. nonetheless, the option is available for interested sellers.
You can choose any mode of payment you wish. Once a buyer buys from you, eBay accounts it as sold. In case the buyer later does not pay for the item, you can inform eBay by opening an unpaid item dispute so that eBay does not charge you for that transaction. You can know more about the process of filing unpaid item, please click here - http://pages.ebay.in/help/policies/unpaid-item.html
The idea of eBay Points is interesting. I am aware that eBay in germany has something similar, where they have eBay points on all railway stations. I am not sure, how it will work for us, however, it is an interesting idea to keep in back of the mind to evaluate further.
I hope I did clarify some of your quesitons. Please feel free to write back for more.
Regards,
Sapana