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I believe the last paragraph is key though.
If your payment is processed and you get an email saying the goods have been dispatched then the goods are yours.
There would be a question of what constitutes dispatch. Is it when the IT system markers the order/shipment as despatched, when the lorry pulls away from the docking bay or when it leaves the warehouse perimeter? In reality once it’s on the lorry or in a load preparation area it’s not coming out unless its diamonds or gold. -
Yes, that’s Freedom of contract, and of offerendum (transliterating legalese here, bear with me). Generally speaking, parties can choose to engage or not engage in contracts with any other party; and just because an item is ‘available’ on a seller’s website does not bind the seller to deliver on a sale, instead they can elect to form a contract only when they’ve acknowledged and confirmed the sale.
We can pick it apart here as an exercise, but initially it seems worth an email asking for the bike at the price they originally paid for it.
I’d tell them that’s not how contracts work, and that they owe a bike.