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@christianSpaceman
I think it's a grey area, and was the subject of ebay scams a few months ago (over iphones). If you open a claim saying 'not as described' you actually don't have to sent the item back.
I did this with the Rourke (not as a scam!) and ended up for a number of weeks with both the frame and the cash - the seller at that point could do nothing, nothing compelled me to send the frame / money back to him and the dispute was closed. He also had to chase a courier company for damage, but I figured that all that really wasn't my problem and left him to it.
Personally I'd just get the lot back from paypal, then send him £150 separately, but it's obviously entirely up to you.