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If the buyer opens it, then he cannot return it, as it would not be in the same condition as sold.

You have a point, but if that was the case. Most new items bought on ebay could never be returned. The seller has no indication of refusal if opened in the ad.

Between the 14 days and Paypal, unless ebay is well versed in postwar train collector practices. I feel the buyer is fairly well protected.

With eBay’s money back guarantee, you have protection.

If the seller sold you a brick in an unopened box, it would be outright fraud, something which no seller can escape on eBay. Less dramatically, if the seller sold you a heavily used model represented as new, you would open a case with eBay to appeal for relief if the seller claimed lost value caused by the buyer.

In this case, because the seller represented it as factory sealed, the buyer can open the box and confirm the model is absolutely new, and if it isn’t would certainly be refunded by eBay or the seller upon its return. (If the seller didn’t accept the return, eBay invokes penalties on the seller.)

That is why you see buyers bid on auctions such as this.

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