I'm a quasi-neophyte Ebayer also, but if this were me, I would just leave the seller neutral feedback, keep the card, and take it as a lesson learned. I've re-entered the hobby after collecting as a kid, so I've been reading these boards to gain more knowledge. However, one piece of advice that I've read frequently is "Buy the card, not the holder." You should have take a look at the card, and clearly seen that it was OC. When I purchase PSA cards on Ebay, I also do a cert verification from the PSA website for another level of authenticity check, and that is where you should have noticed that the card was OC. One final thing that I like to do is to do a search of Ebay for that same card, e.g., "1957 Topps Mays". Then I narrow down the display criteria to only those cards that are graded. On Ebay, you can get overcome by the feeling to want to "win" an auction and end up paying more than you need to, so when I do this search, I can get an idea of the top limit that I should have for this card since there are typically many other Buy Now cards that can give a rough idea of the market value of the card at this time.
It's easy to make mistakes on Ebay all of the time. I just bought a couple of cards that I have regrets on. Basically, you have a seller that is selling like 20 cards for a series that you want to collect, and each card's auction ends like 2 minutes apart. Therefore, you end up putting bids in w/o really looking at the card closely, and doing the proper research. This is what happens.
You can absolutely give the seller negative feedback. I'm sure Ebay would not stop you there. I would ding him a bit to neutral feedback, especially since the card was relatively inexpensive. Up to you, of course.
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