Seller wants to renege as selling price did not meet expectations. I want the item, not a refund.

Hello,

I was the successful bidder on an auction for a painting. I paid for the item through pay pal. The seller subsequently contacted me to say that the sale price did not meet his expectations, and that he wanted to somehow (?) reimburse the purchase price. I won the painting fair and square and I want the painting. It is not right that anyone can renege just because they don't like the purchase price. Where do I go from here to ensure that the seller fulfills his obligations to end the item as per his contractual obligation and as promised? 

Thank you for your help   

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