One of the main ways that Ebay sets itself apart from major competitors like Amazon, is by providing many options for sellers to interact with buyers on the platform.
Ebay allows sellers to run auctions and potential buyers can bid on items they are interested in. What happens though when you want to retract a bid you placed on an item?
How To Retract an Ebay Bid
You should know that a bid is a binding contract and that you’re agreeing to pay for an item if you win the bid. But there are some circumstances where Ebay allows you to cancel a bid. On the Ebay website, they refer to it a ‘Retracting’ a bid.
This ‘Retracting a bid‘ page on Ebay will give you the circumstances under which you can retract a bid. It will also give you a big blue ‘Retract a bid’ button. Click on that button.
On the next page, you’ll see the item(s) you have placed a bid on. Choose the item whose bid you want to retract/cancel.
Then give a reason why you want to cancel, then proceed to cancel that bid. The reason you give should be among the circumstances under which you’re allowed to retract a bid. One reason I get away with is to say I entered the wrong amount. All the best!
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