If your plan is Free Selling  -  No,  the Buyer Protection fee will be added on to your listing price

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@acidaust wrote:

Is it possible to have an option for the seller to absorb the new buyer protection fee rather than have it added to our set pricing?? 

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Of course it's "possible to have an option" such as that which you describe, but eBay has chosen to not provide said option. 

Only by dropping your prices 8% to compensate