This is a descriptive term that people apply to whatever object they are trying to get rid of on Ebay that isn't selling.
Cheapskate #1- Jesus, I can't get anybody to buy this awful plaid pair of pants from K-mart. What am I gonna do?
Cheapskate #2- What, are you stupid? Just re-list it and call it Rockabilly K-mart plaid pants!!
Chaepskate # 1- Dude, you are awesome!