I once traded an iPhone for a what I thought was a Galaxy S4 on Craigslist, but it turned out to instead be a very convincing (and functional) knock off. The guy even talked me into tossing an additional $20 his way when we met, which I think is part of what sold me.
I've even got friends who are scared of that - apparently it's a real thing that when you show up to sell something (camera, lens, phone) multiple people will be there to distract you, snatch it and run. Even in broad daylight in a crowded area.
I can see this. Offer to meet them at a police station.
If it's a phone, meet them at your carrier's store and have a rep confirm that the phone will work and can be activated on their network (no IMEI block, correct frequencies, etc.).
Oh yeah, I actively assume such a setup is in place every time I go to make a Craigslist exchange. Thus far has never happened, but even if they tried it wouldn't succeed. Multiple family members in police services has helped me know the "tricks of the trade" from a young age, hahah ^_^