How bad do you want the item? If you can live without it message the seller through eBay and offer him the real winning price. Basically on second chance he is offering you your highest bid price (the one that lost out to the original bad bidder). What it should really be is if that guy didn't exist what would have been the winning bid?
So say three of you guys bid as follows:A: 201 (bad bidder)B: 200 (you)C: 102 (some other guy) Seller is offering you 200 as second chance but the real winning bid is 104.50. Of course if you really want/need the item then you are SOL. One note there is one special ahole out there based in Italy but sells with listing listed in Europe and Alaska. Has a number of handles (scroogemcduckbonaparte, dagobertduckbonaparte, paperonebonaparte, amongst others). He is a pure scamming thief and does shill bid.