Chick Hazzard

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Sold an item on Ebay, not a watch, on 2/13/08, I gave the winning bidder until the 20th (7 days) to pay. I said in my Paypal invoice that I would re-list after that time. Is this fair? What happens if he pays after I re-list the item? It seems kinda weird that he did not pay, because within minutes of the auction ending, he must have up'd his bid so he wouldn't get out-bid. Everything I have purchased, and sold before was paid immediately. I am also thinking that if I have to re-list the item, I will re-list it with a "buy it now" price of $25.00 less than his winning bid, just to piss him off. 
Any thoughts???
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