Satch: Just got a reply from TM:

Thanks for contacting us. When an auction closes online both parties are given the ability to place whatever feedback they feel is appropriate. However if another member puts a feedback on you that's clearly in retaliation to one you've put on them let us know as we can remove those under our Code of Conduct.

You can get a refund of your success fees by taking the following steps:

1. Go to your 'Sold items' page
2. Select the auction you require a refund for
3. At the bottom of the 'Seller's options' box there is a heading that states 'If the sale falls through...'
4. Below this there is a link that states: To request a refund of your success fees 'click here'.

Please note that the refund process can only be started after the auction has been expired for 3 days. This is to encourage both buyer and seller to complete the trade.

A refund claim must be made within 28 days of the end of the auction or the expiry of any fixed price offer. If it has been more than 28 days please contact us for more information.

Depending on the number of refunds you have requested and the value of the refund, your refund may be automatically processed. If this is the case then no blue kiwis will be placed.

Otherwise, we will email the buyer and ask them for their side of the story. Once we have this, or after a maximum of 5 days, we will make a decision on whether you are eligible for a refund and email you the outcome.

Please note: if your refund is approved, you need to confirm that you still require it by clicking the link in the email.

If a refund is granted a comment from Trade Me (Blue kiwi) will be placed on both your feedback and the buyer's feedback record - this will not affect your overall feedback rating. You should also post feedback on any members that you deal with.

If you have further questions regarding this issue please reply and we will answer your email as soon as possible.

Interesting to see that you can challenge negative feedback if it is clear it is for retaliation only.