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Reading between the lines, I think your point is that James. didn't overcharge for shipping once you take into account the increased cost of adequately insuring the wheel.
Any insurance would be for the benefit of the James. and not Richard1982, so the cost should be borne by James. and not Richard1982.
The same principal applies to Paypal transactions "on here".
The difference between a fee free "gift" payment and one via "goods & services" (which incurs a fee) is Buyer Protection and why the buyer is expected to pay the fee.
All this is quite apart from the fact that I'm quite confident that James. didn't buy increased insurance: if he had, he would have mentioned as much to justify the cost of shipping. He can easily prove me wrong with the receipt.
Can someone send me a link to where you can get a £200-450 wheel posted for £15 with insurance please?