I did look at this yesterday evening and saw the screenshot you posted,
If you look at the bidding history on the sold item, I think you will see that the winning bidder placed their bid a second before the other person who bid £492.
The winning bidder has zero feedback so 'proceed with caution'.
Personally, although you will have to pay more and can't ask the buyer for more postage, I would send the item using Royal Mail Next Day Special Delivery.
"There are two ways to be fooled. One is to believe what isn't true; the other is to refuse to believe what is true.”
Søren Kierkegaard, Danish philosopher (1813 - 1855)
