I would stay away from this one - I have recently added to my listings that feedback of 5 or less needs to contact me before bidding or i cancel their bid. Have you talked to the buyer? We talking 1500 US funds? If so, that is closer to like $1800, and like someone already said, even if you insure for the MAX, you are looking at only recovering $1000. Also (had this happen before) when you insure that high, you actually write $1000 on the customs form, making it more appealing for dishonest postal workers. Finally, can you get signature confirmation to China? I have never tried with Canada Post, but I know it is not an option to the USA when I send expedited or tracked packet, so I am guessing it is not an option to China. With ebay, tracking does not do jack - buyer can still claim non receipt. Seller is only in the clear if they have proof of receipt - which is signature.
This seems too good to be true - like when I list a guitar on kijiji and someone from Africa wants to pay me double because they want it as a gift for their son! Save yourself the headache!