Exactly the same protection through paypal that you would have if they were more established *I think*
I have just started selling on the bay and have zero feedback at the moment – obviously I know I’m honest but others don’t. I guess it is somewhat moreof a gamble than someone with a track record. My solution was to offer cash on collection, that way I can’t take your money and run. If the seller is offering this option and you are worried (and close enough) perhaps pick up?