I mostly run auctions, because my items sell better at auction than BIN. I occasionally get a non payer. I think I've had one this year. I don't see them as being idiots, or morons. I see them as being non payers. I don't feel the need to belittle people. I wait 4 days and open a dispute, then close it 4 days later and relist. I add them to my blocked list and am satisfied that if they have 2 or more non payment strikes against them, they can't buy from me anyway, as I have buyer blocks in place to prevent them buying in the first place.

Do you have blocks in place?

I find it quite tacky that you refer to them as idiots and morons. At least the buyer contacted you. Most don't. Even by contacting you, they will still end up with a strike against their account, and they probably know that, and really don't care.

It's not the end of the world. Relist the item and if it's that sought after, it will sell on the next relist. If it's not, then it will just continue to relist over and over. 

Edit: As the buyer has already said they aren't paying, offer it to the next bidder as a second chance offer. It's only $2 less than the high bidder. Explain to the underbidder that they high bidder doesn't want it and it's theirs if they want it. Problem solved.