Buyers aren't eligible under the Paypal Buyers Protection Policy if the item is picked up. (sellers aren't covered either).
S12.1 You may be eligible for the PayPal Buyer Protection Policy if all the following requirements are met:
........
Your purchase is NOT for:
Vehicles (including cars, motorcycles, caravans, boats and planes);
Real estate;
Custom made items;
Industrial machinery used in manufacturing;
Items prohibited under our Acceptable Use Policy or eBay's "Prohibited and Restricted Items and Services" policy (which will prevail in the event of any inconsistency with this policy);
Items you collect in person or arrange to be collected on your behalf; or
Quasi-cash items such as gift cards, pre-paid cards or deal vouchers;
https://www.paypal.com/au/webapps/mpp/ua/useragreement-full#Schedule_1_PayPal_Seller_and_Buyer_Prote...