Can I cancel the purchase and relist the item?
Assuming they did not pay ...
If you want your Final Value Fees refunded, and the ability to make a Second Chance Offer, or relist correctly, you must do one of the following:
1. Complete the Unpaid Item process (usually preferred)
or
2. Convince the buyer to agree to a Cancellation Request,
Both options are available in the eBay Resolution Center
Here is a comparison of the timelines, pros, and cons of filing an Unpaid Item (UPI) report versus a Cancellation Request (CR)
http://www.pirsquare.notlong.com/upi_or_cancel.html
Also consider putting the bad bidder on your Blocked Bidders List. (Stop back here for more information if you need to learn how to do that).
A great place for quick answers; no waiting, no voting,
"Do It Yourself": eBay Customer Support .