An Ebay transaction first -soliciting opinions

[hcv123]

I appreciate all the input and opinions. I asked this question preemptively. The buyer hasn't asked for anything yet (except for a replacement which he was willing to pay for and I do not have). He has not threatened negative feedback or opened a case.
While I couldn't have known about the condition of the poster, I feel bad that he didn't get what he thought he was getting.
The poster was described as "Brand new in package" - from 1989.
I can see reason in all opinions offered so far - still mulling over - more input is welcome.

[BruceinGa]

I would hope a seller would always want a buyer to be happy, giving positive feedback.
The only way where the buyer wouldn't be due a refund if the item would have been listed with some kind of description of an unknown condition. Most times I would think this wouldn't be offered, such as your case.

I'd start by offering a partial refund and allowing the buyer to keep the poster. Otherwise full refund upon return unless you just have no interest in the poster at all

[Edwolf1963]

Originally Posted by hcv123

I feel bad that he didn't get what he thought he was getting.

I think what you noted here above pretty much sums it up. I would just refund it and move on if he asks for one.