Remember too, that eBay management is aware that humans will make mistakes, and if you do happen to goof, it will not keep you in the eBay dog house for life! Just follow the guidelines below and you should have no problem with the retraction process.
Since bidding is a binding agreement between you and the seller, be sure to do your research of the item and seller first.
When Can You Retract Your Bid?
- You entered the incorrect amount, accidentally.
- The item description has changed so much that it will affect the value of the item.
- You are unable to reach the seller: The phone is a non-working number and an email comes back to you as undeliverable.
- Someone has bid on an item using your User ID and password.
Other Retraction Policies:If you find that you have entered the incorrect amount on a bid, for example, you type $100.25 instead of $10.25, it is important to make your correction immediately.
Bids that are placed before the last 12 hours of the auction may be retracted but only under those circumstances mentioned above.
If you do make a typographical error during the last 12 hours on the auction, you have one hour to make corrections but you will need to complete the Bid Retraction Form.
If you are correcting a bidding error, before or after the 12-hour period, you will have to bid again or you risk being suspended from eBay due to violating their bidding policies.
Anytime you retract a bid you need to use the Bid Retraction form.
When Can You Not Retract Your Bid?
- You decide you bid too much.
- You realized you really can't afford the item.
- You bid on multiple auctions for the same item and don't want to buy all of them.
- You acted impulsively and you really don't want the item.
Your retraction history (over the previous 6 months) will appear in you Feedback Profile. A short explanation for your retraction should be completed for the seller and other bidders to read. In the event that you cannot retract your bid, you do have the option to contact the seller to see if they will agree to cancel your bid. If they do not, then you are responsible for payment.
eBay investigates any bidder who has excessive retractions. This is done to detect any possible bid shielding, which is a serious violation of eBay's policy.
As you can see, the bidding process is viewed seriously and should only be done with honorable intentions to purchase the item for the amount you bid. But now you can relax knowing what steps to take if you make a mistake.