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Bid retraction on eBay can be a seller's worst nightmare. It is understandable that sometimes life happens and maybe the buyer just can't afford to purchase the item. Most other times, the buyer just changes his mind. And, on occasion, you can just be one of the lucky ones who gets the guy who gets his kicks by trying to break all of eBay's rules and create his own.

What is the reason for retracting your bid? You can only retract your bid if the cause is entering the wrong amount when you bid, the item's description drastically changes, or if the seller is unresponsive to you.

When can I retract my bid? The bid retraction must take place when there is twelve or more hours left before the auction ends. You cannot retract your bid in the last twelve hours of the auction if you had already placed your bid a day prior. The only exception to this rule is if you contact the seller, and he allows your bid retraction. If the seller says no, you have the obligation to fulfill your end by going ahead with the purchase. If the buyer has placed a bid within the last twelve hours of the auction, the buyer can remove that bid an hour after placing it.

I have had the unfortunate case where a buyer placed a bid on the second day of an auction, and within the last hour of the auction he had the nerve to email and tell me he didn't want it anymore, and he wasn't going to pay for it. First of all, he was not following the rules of eBay, plus he had zero feedback. Secondly, even though I told him it was too late to retract the bid, and he wasn't following the rules, I still ended up with no pay from that guy. Luckily, I was able to at least file a dispute, get my final value fees back, and leave negative feedback for the deadbeat.

If you honestly need to retract your bid, you must fill out a Bid Retraction Form found here: http://offer.ebay.com/ws/eBayI SAPI.dll?RetractBidShow. This will take you through the steps to remove any bids that you have placed on that listing.

Learn more about this author, Emilie Grace.
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