How to withdraw a bid on eBay? eBay has about 132 million active buyers on its site, according to Statista data from the second quarter of 2023. The online platform faces steep competition from Amazon but is still a favorite for antique buyers, resellers and more.
If you’re new to the e-commerce site, we’ve got you covered with tips and tricks. Can’t find the “cancel bid button” on the item listing page? That’s because it doesn’t exist. It might seem like it isn’t possible to retract a bid on eBay, but it is. You just have to make a few extra clicks.
Here is everything you need to know about canceling a bid on eBay.
How to withdraw a bid on eBay?
After you’ve submitted your bid, you won’t see a cancellation option on the product page. To cancel a bid, go to eBay’s customer service page and search “retract a bid.” It should bring up an article entitled “Retracting a bid.”
Here, you can click on the blue button that says “Retract a bid” (or you can just click here) and another page will open.
Items with active bids should be listed on the page. Click on the bid you want to cancel, and a new page should open. Select a reason for canceling. Once your bid is canceled, you should receive confirmation in your email.
How does bidding on eBay work?
For auction-style eBay listings, the seller will set a starting price. Potential buyers will need to submit bids in the hope of being the highest bidder when the auction ends.
However, it’s not always that simple. eBay also has something called automatic bidding. This is where you set the highest price you’re willing to pay for an item, and the platform automatically bids for you up to that limit.
If you’re the highest bidder at the end of it all, the item is yours.
Can you cancel a winning bid on eBay?
It’s important to remember that once you make a bid on eBay, you’re agreeing to buy and pay for the item if you win the auction. So, only bid if you’re sure.
Unfortunately, it’s unlikely that you’ll be able to retract a winning bid. This is unless any of the following exceptional circumstances apply:¹
- You bid the wrong amount by accident. For example, you typed £100 instead of £10 when submitting the bid.
- The seller significantly changed the item description
- You’re not able to reach the seller.
It’s not guaranteed that you can cancel or retract a bid under any of the circumstances above, but you can give it a try.
You might also be able to contact the seller to ask them to cancel the bid for you. You can explain the circumstances and they may be understanding.
What happens if you don’t pay a bid on eBay?
You must pay for any items you’ve purchased on eBay within 4 days. This policy is the same whether you’ve bought something outright or won an auction.
If you don’t pay up in time, you’ll be in violation of eBay’s abusive buyer policy. Your order may be cancelled, and your eBay account limited or restricted. You may lose buying privileges on the platform altogether.
Am I allowed to cancel a bid on eBay?
The answer is: sometimes. eBay states that a buyer can retract a bid they’ve made if any of the following apply:
- The seller has changed the description of an item you’ve already bid for.
- You bid the wrong amount! For example, if you enter an extra zero, accidentally bidding £300 instead of the intended £30, you can take back your bid. You can then enter the correct amount you wished to bid in the first place – typing very carefully!
- The seller is a no-show. If you find you can’t email, call or contact the seller, you are allowed to retract your bid.
If you just change your mind, you can’t retract your bid, however. This is what eBay calls an ‘invalid bid retraction’. If you make an invalid bid retraction, the seller has the right to report you to eBay, which can then take further action like suspending your account, if necessary. Only cancel a bid if you are confident you meet the criteria.
If you’re unhappy about the service you’ve received from a seller – for example, if something you’ve bought doesn’t arrive or if it’s faulty, damaged or not as described – you can report them to eBay.
How can I avoid having to cancel a bid?
Practicing good buying techniques can help stop you making a bid you later regret:
- Double-check you’ve bid the right amount, especially if you’re making a last-minute bid.
- Ask yourself if you really need a product before you make a bid – even if it looks like a great bargain. Can you afford it and have you budgeted for it?
- Check the description of the product carefully before placing a bid. If you’re thinking of bidding on an electrical product, check it comes with a warranty. If not, it’s best to avoid placing a bid at all.
- Compare other products before you bid. Don’t be pressured into making a decision. There’s a vast number of sellers on eBay, many of whom will be selling similar products. It’s always best to check out all of your options first.
Can I cancel my eBay bid?
According to eBay, you’re allowed to retract your bid if the seller changed the item description significantly or if you accidentally bid the wrong amount.
If more than 12 hours remain in an auction, you can retract all your bids, according to eBay. But if fewer than 12 hours remain, you can only cancel a bid you placed within the last hour, according to eBay.
What’s the time period for cancelling a bid?
According to eBay, you’ll only be able to retract a bid for up to 1 hour when the listing is ending in less than 12 hours.
And that’s it – everything you need to know about how to cancel a bid on eBay. It’s a little tricky to do, as the option to retract a bid is only really available for exceptional circumstances.
If you can’t cancel your bid, it’s always worth contacting the seller. You might be lucky and have an understanding seller who is happy to cancel your bid.
Won an eBay auction and are happy to buy the item? If it’s an international seller, use the Wise virtual card to pay for your purchase in their local currency.
Your money will be automatically converted at the mid-market exchange rate, for just a small fee. Or if you already have the currency in your Wise account, there’s no fee to pay.
It’s a smart, money-saving way to shop online in multiple currencies.
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