The more I think about it, the harder it seems to me, too.
To set up even a fake PayPal account, you have to link it to a genuine bank account and make (IIRC) a £0.01 payment from one to the other to establish the link, so it's actively tested. In the days before money laundering regulations and aggressive enforcement by the Yanks, there were workarounds. Those days are long gone.
This can only work if, having tricked someone into buying a non-existent bass in the Canaries (or in the Shetlands in the good old days) the vendor goes on to 'have difficulties' with his PayPal account and tricks the buyer into paying by bank transfer.
And that can only work if the buyer believes that he is paying money to a Spaniard in the Canaries when actually his money is going to Azerbaijan and the scammer's uncle owns the bank.
This scam would probably work better if the scammer were to claim that he works for Nigerian Customs, who have seized a container full of vintage basses which is being held in Bond at Lagos, and he can only get them released to you if you give him your bank account details ...