You can ask the seller to cancel, but they do not have to and may open a "non-paying buyer" dispute against you. If you don't pay then a strike will be put against your account.
So long as you don't get another in a 12 month period it won't affect you, but if you do get another you will find yourself barred from bidding or buying from any seller that has their "buyer blocks" in place.
You should also realise the the seller is charged final value fees as soon as you won the auction.
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"Start me up I'll never stop......"
