when you sell any item you are selling THE ITEM , the postage service is a service you help with , if the buyer wishes to have the SELLER arrange for delivery they should ask for insurance etc

I always ask the buyer if they would like to pay extra to insure the item if the item is worth more than the std rate of cover , most say no to the extra £3 ,lol

Royal mail is a pain in the arse as they loose more than they deliver FACT , but once lost it isnt the SELLERS fault is it , he didnt loose it .

Wait for the royal mail to either find it or pay then refund because you can be sure if it does turn up on the buyers door after you have refunded him 75% of people wont send you it back