How can people sell dvds on ebay for less than the P&P?

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Sometimes I see people/businesses (?) selling used dvds for just over £1 including P&P on ebay? How is this possible, given that it costs £1.32 to post a dvd? Do they get heavily discounted stamps? If so, where?
A single dvd with case weighs around 120-125 g so would have to go as a large letter.
£1 minus 10p (ebay fees) minus (3p + 20p) (Paypal fees) minus 1.32 (large letter stamp) = -£0.65
Am I missing something?
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Some of these sellers don't have perfect feedback, maybe it's their way of trying to improve on it by selling at a loss until they get more positive feedback.
It is beyond doubt that if the picture shows a disc in its box, the box will be included. Otherwise, the buyer will be able to open a claim due to the item not being as described.
from the t and Cs re condition
All views are my own and not the official line of MoneySavingExpert.