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Mark,

Yes, I have purchased one on eBay, and sold another. There are two rules for I follow:

1) Get someone to see the car if it isn't local. I belong to a massive Chevelle Forum and we look at cars all of the time for folks in other states. Having someone that is a car-person or knows specifics on the model helps immensely. You hear daily stories of the horrible cars some folks have gotten. I personally have had zero issues with either purchase.
2) Tell the seller that you'll close the deal after you look it over and it goes to a local mechanic for a checkup. If they refuse to allow you to do that, keep looking. I'd rather suffer the wrath of bad feedback and problems on eBay than be stuck with an expensive paperweight!

If selling, realize you're going to get soaked on the fees for something that costs a few grand.

I personally now recommend Craigslist. I used it to purchase my last vehicle as well as sell a travel trailer and a million other things. The only issue is that these being local, you can meet some nutters or folks that want to scam you. DO NOT have them over to your house as they may be casing the joint. Meet at a local McDonald's or Walmart with the vehicle. Most legit private sellers will also let you take it to a mechanic for a checkup.

Just do your homework and be careful.