Purchased item not at location stated no contact with seller

[babycygnet]

Hi, I have purchased a shipping container and of course this is pick up only and the only option for payment was Paypal no cash option on pickup. Paid via PayPal via my cheque account. I got he address for pickup and contracted a tray tuck to pick it up but when he got there it is a vacant lot with no container. In between this the seller had asked me to release the funds as he was short of money. I was prepared to do this once I had the container. I am unable to contact the sell and he has not responded to Ebay or Paypal. But I am shocked that I am not covered for the payment that as yet has not been released to the seller. All along Ebay had said I was protected but once the case was escalated I'm told a different story. It was a considerable amount of money $1540.00. If he does not return phone calls and emails surely a STOP can be put on the payment to him before it is due to be released this week.

Surley this is fraud? Help please.