When an eBay bidder has accidentally bid the wrong amount, they can cancel the bid they made, also known as the unbid. eBay discourages canceling a bid unless there was a mistake made during the bidding process. If the bid was placed during the auction's last 12 hours, the bid can only be removed within an hour of the bid being made.
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Check to see if your reason for canceling is grounds for an unbid. The rules don't allow an unbid for a simple change of mind. Only a bid that was mistakenly made in the wrong amount, a bid that was made before the description of the item was changed significantly or a seller that can't be reached by email or telephone are grounds for canceling a bid.
Find the Bid retraction form. eBay doesn't make this form easy to find in order to discourage people from canceling bids. To find it, go to the page that displays the bids made for the item. Look under all the bids for the informational link labeled "retract your bid" in the second sentence. Click that link to get to the page that discusses the requirements for canceling a bid.
Click on the link in the first paragraph that says "Bid Retraction form." This will take you to the form that you must fill out in order to unbid.
Type in the item number from the auction that you want your bid taken off. The item number can be found on the auction page on the top right of the item's listing. Choose one of the three reasons for the unbid from the drop-down menu and click the Retract Bid button.