How to Retract A Bid On Ebay

When you place a bid at an eBay auction, it is a binding contract. You have legally agreed to purchase the item you just bid on if you are the winning bidder. If you later refuse to pay for the item, the seller and eBay could potentially take legal action against you. However, there are a few instances where you are able to retract a bid on eBay. These circumstances are the exception rather than the rule. Know what they are and use them sparingly.

Instructions

Difficulty: Moderate

Things You’ll Need:

• Valid eBay membership
• Access to the Internet
• Computer

Know How to Retract a Bid on eBay

1. Log in at eBay (see Resources below).
2. Click on "My eBay."
3. Click on "Buying Resources."
4. Click on "Retracting a Bid."
5. Read the guidelines for retracting a bid. You may only retract a bid under a few very specific circumstances. If your reason for wanting to retract your bid meets the listed requirements, then click "Bid Retraction Form."
6. Supply the item number of the auction of which you wish to retract your bid.
7. Select your reason for retracting your bid from the choices in the drop-down menu.
8. Click "Retract Bid." Your bid is now retracted and you are no longer a part of the auction.

Tips & Warnings

• If you have more questions about how to retract a bid on eBay, visit the eBay Help page (see Resources below).
• You are not permitted to retract a bid if the auction has ended.
• If you have agreed to purchase an item through a fixed-price listing or through "Buy It Now," you cannot take back this agreement.
• You can not retract a bid less than 12 hours before the auction ends unless the seller agrees to allow this.
• You may only retract a bid if you entered an incorrect amount for your bid, if the item description has been substantially altered or if you have not been able to get in touch with the seller regarding any questions or concerns you have about the item.
• Protect your account and your identity when using eBay. Keep your password private and change it frequently. Also make sure that your contact information on file with eBay is up to date so eBay can contact you if any privacy issues arise with your account.
• eBay investigates all bid retractions. Make sure you tell the truth about why you are retracting your bid.
• Repeated bid retractions can result in suspension from eBay, so do not make a habit of doing this.