He can file a complaint but it doesn't mean the bidder has to pay the money. At worst the bidder's 0 feedback account gets banned and that's it. I assume the product will only ship after payment so I don't understand the point of bidding it up so high if the bidder has no plan to pay.
Maybe the bidder wants the seller to pay exorbitant final value fee and paypal fee?
Yes account gets banned, however, this is a contract if you buy something from a seller on eBay, so I think if the seller brings the buyer before the court he will win?