No. Once an auction ends, the winner has won it at that price. Refusing to sell because the number disappointed you is not allowed.
Why it cannot work any other way
A bid is a promise to buy, and the whole format rests on that promise being real. If a seller can walk away from a result they dislike, the promise only binds one side — and a buyer who knows that stops bidding seriously.
So the rule protects the thing that makes your next auction work.
What it costs if you do it anyway
It is recorded as your cancellation, with a reason.
Cancellation rate is one of six measured standards, and it has the tightest thresholds of any of them. A store cancelling regularly is visibly worse than one that does not.
No fee is earned on it — a fully refunded order is not a sale — so there is no version where this is profitable.
And the buyer is told. They can review the store, and "won it, then they cancelled" is the review that does the most damage.
The tool that does what you want
A reserve price. A figure below which the item does not sell. Bidding runs as normal; if it stops short of the reserve, the item comes back to you unsold and nobody has been let down.
It is never shown to buyers, so it cannot be gamed, and it is set before the item runs.
That is the whole answer: the protection exists, it is free, and it has to be in place beforehand. What is a reserve price?
Why people skip it and regret it
A reserve set too high stops items selling, so sellers who have been burned that way stop using it. The fix is a sensible reserve with a low start price, not no reserve — the start price brings people in and the reserve catches the floor. How to price for auction
What you can legitimately cancel for
You cannot send it — it broke, it is lost, the stock was wrong. Honest, and still counts against you, so cancel early rather than late.
The buyer asks to cancel. A buyer-requested cancellation is recorded as theirs, not yours.
Something is wrong with the order that cannot be fixed.
What is not on that list is the price.
If an item consistently goes too cheap
That is a pricing and audience problem with real fixes, and none of them is cancelling. Why did my item sell for so little?
More: do I have to sell to the highest bidder, what is a reserve price, how to price for auction.