How to Retract A Bid On Ebay

How to Retract A Bid On Ebay. When you place a bid at an eBay auction, it is a binding contract. You have legally agreed to purchase the item you just bid on if you are the winning bidder. If you later refuse to pay for the item, the seller and eBay could potentially take legal action against you. However, there are a few instances where you are able to retract a bid on eBay. These circumstances are the exception rather than the rule. Know what they are and use them sparingly.

Know How to Retract a Bid on eBay

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Log in at eBay (see Resources below).

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Click on "My eBay."

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Click on "Buying Resources."

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Click on "Retracting a Bid."

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Read the guidelines for retracting a bid. You may only retract a bid under a few very specific circumstances. If your reason for wanting to retract your bid meets the listed requirements, then click "Bid Retraction Form."

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Supply the item number of the auction of which you wish to retract your bid.

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Select your reason for retracting your bid from the choices in the drop-down menu.

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Click "Retract Bid." Your bid is now retracted and you are no longer a part of the auction.