This has really intrigued me (I think I need to get a life), so my latest eBay purchase I have done as a guest, and paid with my credit card via the PayPal gateway, but also as a guest.

I thought as a guest it might default to the US site, but can confirm that payment was made with the Aust site (the emailed PayPal receipt is from PayPal Pty Ltd) in AU dollars.

So far my Coles Mastercard (underwritten by GE Money) is only showing the $11.80 that I spent (no international charge), but it usually takes a few days for the statement to update with the name of the transaction.

It will be interesting to see if GE add a charge for this transaction!