Does an Internet company have to honour there online advertised price?

We tried to purchase an item through Amazon. It was being sold by a third party and was marked up at one price. We added the item to our basket and paid the amount asked. After we paid for the item we received a "confirmed item purchase" email at the price it was advertised. Then approx 24 hours later we received and email from Amazon saying that the third party had canceled the sale and shorty after we got an email from the third party saying the advertised price was incorrect and they had canceled the order because of this mistake. Do they have to honour the internet price advertised?