Normally, once you place a bid on eBay, you are committed to pay for the item if no one bids higher than you. However, eBay does provide a bid retraction process for cases of error, item information revision or unreachable sellers.
Deleting a Bid on eBay
Verify that you are eligible to request a bid retraction. Retraction is only allowed if you made a serious error when entering the bid amount (for example, typing $5250 when you meant $525), the seller makes changes to the item description that affect your decision or you are unable to reach the seller with questions or problems.
Make sure that you are within the time frame to request bid retraction. As long as the auction has more than 12 hours remaining, you can request a retraction at any time. If the auction ends within 12 hours, you must submit your request for retraction within one hour of bidding.
Fill out a bid retraction form if you meet the requirements. The bid retraction form asks for the item-listing number and an explanation for the retraction request.
Ask the seller to delete your bid if you cannot request a bid retraction. Links to contact the seller are located on the upper right-hand side of an item listing. The decision whether to delete your bid is completely up to the seller.