He wouldn't be able to delete and edit posts made in the Auctions child-board, and deleting a PM from the Outbox doesn't make it magically disappear from the recipient's Inbox (and there are forum backups, too).
As malevolent said, the PM won't be deleted if one person deletes it.
It will be deleted if both people delete it and though they are backups, they most likely will not be checked for a single person.
Theymos has said in the past that you should send a PM to an account that will never delete it.
I recommend sending it to DefaultTrust and then saving the PM id.
In case someone is wondering, here is the post theymos mentioned that.
https://bitcointalksearch.org/topic/m.7169449