If you won the item via Buy it Now rather than auction then yes, you are covered by Distance selling regulations which allow a cooling off/cancellation period in the first 7 days after sale.
Distance Selling Regulations
Distance Selling Regulations - BERR
The best thing would be to contact the seller and explain to them that your circumstances have changed.
Have you paid for the item yet? Does the seller look like they re a business (how much feedback do they have)?



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