I'd return it also. What if some crackpot does a chargeback? If they claim not as described, they may get to keep the bag and get back the money. Paypal does not cover sellers for not as described with a chargeback. I found this out the hard way. (BTW - my item was as described, I had proof, but of course her cc company sided with her)
I don't understand how they get to keep the bag AND get back the money. Why does this happen? If you are out the money you should at least get your bag back. I was actually having a conversation about this very thing (chargebacks on high end designer bags) the other day with a business woman who insisted the bag would have to be sent back to the seller... that the buyer can't keep the bag and the money. Yet it happens all the time.
Roey, this is a good question. I hear that all the time too, that a charge back is done, and the buyer get's the money back and keeps the bag, I also don't get how this can happen. Maybe someone here can explain exactly what happens, when a charge back occurs.