on 08-04-2012 08:41 AM
Yes it is and any shipping cost as well.
You could beg for mercy from the seller to let you off the hook but keep in mind, the seller is not obligated to do so.
If the seller agrees to let you off the hook they would have to start a process up MC (Mutual Cancellation) and both parties must agree, if done right no harm is done, if NOT done right and seller was unable to receive their FVF (Final Value Fees) from ebay, somebody is going to be upset.
Best option is to pay for the item and maybe resale it back on ebay and who knows might make some money on it.