Bare in mind that falsely declaring the value of goods being imported is illegal, but people have been known to do it.
It may or may not get checked, no way to tell before hand. Totally down to the courier/customs.
For the second part you suggest, that is called drop shipping and is not liked by EB. It will also mean you will likely get marked down on delivery times as it will take longer for an item to get to the customer from China than it would from the UK.
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