Bidding price offered too low

After 7 days auction bidding ended with a price too low for me to accept that. Can I not to sell the item to the highest bidder and relist it again?

eg. I put an item on eBay auction with reserve price $20, after 7 days bidding ended with the highest bid only $70 has won the bid. I want my item sell for at lease $100. Can I refuse to sell for $70 and cancel it and relist it again?

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