The past tense of "outbid" is "outbid".
So you bought two identical items from the same seller, one in auction and the other as a Buy It Now two days later.
Use Contact Seller to explain your error. Ask for a Mutual Cancellation, If the seller sends this, agree immediately, pay for the other item and leave positive feedback for both.
He could hold you to both sales, or leave you with Unpaid Item Strikes, but a bird in the hand is worth two in the bush.
Keep it friendly and apologetic, and all should go well.