Can an ebay buyer get away with this scam

If I send a gold chain to winner on ebay that cost $600. I track it and insure it. The buyer receives it and send it back. but send me a pencil, a silver chain a rock. anything but the item that was sent to him. He too insures it and tracks it. then he wants a refund. i of course refuse. he opens a claim with ebay and paypal. he provids tracking number. tracking shows i received the item back. I mean can he get away with this? if this happens are you screwed? what can you do to protect your self? there is not much written about this.
      Answer1:report him
      Answer2:counter sue for fraud
      Answer3:you put way too much though into that. I would think that at that point one could get a lawyer involved so id say no it would be a crappy thing to do.
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