Cancelled my bid and now relisted at a much higher price. Is this allowed?

[stein20070121]

Is a seller allowed to cancel your bid then relist the same item (different item number) at a much higher price? 

[ruby*tuesday]

Did you win the Bidding? If so the Seller will be Charged the EBay Final Value Fees and will have given themselves a Damaging Defect. Only takes a couple of Defects to lose your Account. Leave Appropriate Feedback.