You have to wait 30 days. Then you can nominate him for the probation list.
Protocol is to...first of all...be reasonably patient before you put someone on blast for being a "nonpaying bidder." It's been 72 hours since your PM negotiations and around 24 hours before he posted it in the thread. I see no mention of a deadline in your rules. Unfortunately, the book is tied up for now, at least if you go by the rules.
Also, you start by sending one kind reminder, then you wait. Then you send another. Like I said, I'm 99% sure the wait period is a month before anything can be done.
If you sell the book from under him after he posted an then you are in danger of being nominated yourself. I'd at least give the guy a week before hitting the panic button.