1st class signed for item considered "lost" how long more should i wait before refunding the buyer?

[gieoha]

Hi ebay community,

This is an update from this post.

I called royal mail about two hours ago and they stated that this parcel is now considered lost since posting it on the 30th June (13 days).The item is worth more than the special delivery comepensation limit and i made the stupid decision to send it 1st class signed. My question is how long more shall i give it to arrive before refunding the buyer or is there a little to zero chance of it showing up and should issue a refund immediately?

Another extended question.Tthis whole exchange has put me out of pocket over £1,000. As you might imagine i'm livid since it's my error in putting such good faith in the now known substandard service paid for.  Are there any other options to escalate this to spread awareness of royal mails poor management of mail or perhaps recieve additional compensation, or both?

Already i'm in the process on claiming maximum compensation for 1st class signed which drawfs the true amount **bleep** away into the gentle summery breeze of july.  I'm furious now but shall forget it soon, but before i do how can i maximise this situation. Oh Helpers of ebay, i call upon your words to tell me i will be alright in life with this degree of stupidity.

[papso22]

You need to refund your buyer before they get the chance to escalate a case to Ebay.  If you don't you will get a defect and you won't get a credit for your ebay fees.  

As for the RM compensation, if you under insured then that is your problem.