eBay has been a favorite of eCommerce shoppers since the early days of the internet. One of the things that makes eBay a unique and enduring brand amongst a sea of competitors is its use of auction-style bidding on listings. The auction system makes it possible to obtain hard to find items at a great price.
Bids from buyers are taken very seriously on the platform and for good reason. Buyers that place frequent fraudulent bids are a nuisance to sellers and other bidders alike. And while this unscrupulous practice is highly frowned upon by other eBay users, accidents do happen, and legitimate buyers will inevitably find themselves needing to cancel a bid once or twice.
Fortunately, there are ways to do this without negatively impacting your rating or your wallet. In this article, we will explore how to cancel a bid on eBay and the different scenarios in which eBay allows sellers to cancel bids.
When Can I Cancel a Bid on eBay?
As most eBay users already know, placing a bid on eBay creates a binding agreement between buyer and seller that the buyer will purchase the item if they win the auction. This holds true for all categories with two exceptions, namely, real estate and motor vehicles.
These exceptions include circumstances out of a buyer’s control, like if the seller changes the product description substantially without notice or if the seller cannot be reached by the buyer. Additionally, if the buyer clearly made an incorrect bid- for example, adding an extra zero to a bid- they may be allowed to cancel the bid.
A bid can also be canceled without penalty if the sale has at least 12 hours remaining. When it comes to bids placed in the last 12 hours, a buyer may only cancel their most recent bid within an hour of making it.
When am I Not Allowed to Cancel a Bid on eBay?
Buyers do have the power to retract bids, though this power is limited in a number of important ways. Buyers that display a pattern of placing bids and canceling them will be subject to punitive action such as buying and selling limits on their accounts and in extreme cases, a total suspension of the account.
Buyers cannot cancel bids for trivial reasons such as buyer’s remorse, or cases in which a buyer places bids on many equivalent listings with the intention of only buying one. It is also considered unacceptable for buyers to place bids not for the purpose of purchasing the item but simply to test out the buyer’s maximum bid or reserve price.
In specific cases, a buyer may also have the opportunity to cancel a bid. This might occur if the buyer requests a retraction, if a problem arises with the listing or the item, or if the seller has reason to believe that the buyer is fraudulent.
How to Cancel a Bid
The cancellation process itself is relatively simple and works in the same way for buyers and sellers. To cancel a bid on eBay, you will need to login to your eBay account and click the “Help and Contact” button at the top of the screen. At this point, a search bar should appear, in which you should input the phrase “retract bid”.
You will then be directed to a page with a blue button reading “retract a bid”. After clicking this button, you will want to click the “get started” message to select your bid. You will be presented with a list of items, from which you will select the item that you need to retract the bid from.
At this point, you will need to add the item number and the reason for canceling the bid. You will then select the “retract bid” button as shown above.
Canceling a winning bid is somewhat trickier as the decision is in the seller’s hands at this point. You will need to contact the seller directly through eBay’s messaging system, explain the situation, and ask for a retraction. Generally, sellers will be understanding of buyers with legitimate reasons, but it is ultimately their decision whether or not to retract the bid.
Source: Business Insider
While canceling a bid in an eBay auction sale is never the ideal outcome for either party, there are certain situations in which this action is necessary. If you need to cancel a bid, simply follow the guidelines in this article for a smooth resolution.