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An Escrow service is a third-party who becomes the recipient of payment and the object purchased. Thus, you send your payment to them (Along with a fee [a flat rate + an additonal amount dependant on the value of the item purchased]), and the seller likewise sends them the item. The escrow service examines the item to ensure that it is what it was purported to be. Upon confirming this, they then send on the item to you and your payment (with the method you choose) to the seller.
Fees vary intensely from service to service. Be sure to use one that is ceritifed by the Better Bussiness Bureau or you country's equivilant. It may cost a little more, but as Ive said, the security is worth it, especially for a high-value item.
I no longer purchase on ebay without the assistance of an escrow service.
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