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Ah, that's not very encouraging. I did actually specifically ask a out the issue with PayPal and ebay being separate entities able to act independent of each other and he said (the relevance of the call reference number being that it can be listened to I hope should it be required) that regardless, ebay would protect me should it be required. Completely take your pijnt of course and I cited examples of sellers being done over before
I would consider your ability to do anything about that should it turn out not to be true. "But some guy on the phone said it would be fine, here's some random digits of a reference number he gave me" isn't much good if Paypal adjudicate against you, no appeal possible.
Ultimately sellers have to trust every single buyer not to fuck them over.