by
sir_snipes_alot
This is an often asked question on the bidding board.
A bid retraction is considered a very serious issue
by eBay, as well as sellers and other buyers.
First
some definitions:
During
the eBay bidding process, each and every bidder is alerted
to the fact that they are about to place a bid that
is considered to be a binding contract between the buyer
and seller. Bidders are responsible for the full amount
of their bids once they are placed. A bidder remains
responsible for their bid until the conclusion of the
auction. Bidders are also reminded in the eBay outbid
notice, that even though they may have been outbid,
there is a possibility that they may once again be reinstated
as the high bidder through bid cancellations, or retractions.
You should never ever bid on more than one item at a
time, unless you are willing to buy more than one.
Bid
Retractions are considered such a serious issue, that
they are recorded on every eBay users feedback record
for a period of 6 months. Both valid and invalid retractions
are recorded. Sellers reviewing a bidders feedback
record of retractions may view these retractions in
a negative light, and refuse to accept bids from bidders
with excessive retractions. Since there is no way
of telling whether a bid retraction was for valid
or invalid reasons, you should make every possible
effort to avoid retracting a bid.
There
are only (3) three valid reasons to retract a bid,
according to eBay rules and regulations:
-
You have entered an incorrect amount because you
misplaced a decimal point. Bidding $1000.00 instead
of $10.00 - in this instance you may retract your
bid, but must immediately rebid the correct amount.
You should also enter the reason for your retraction
- stating, "typographical error, misplaced decimal
point".
-
The description in the auction listing was significantly
changed, after your bid was placed. There
are time stamps for listing revisions as well
as the bidding history to monitor these facts.
-
You are unable to contact your seller by e-mail
or phone, due to incorrect contact information.
All other reasons for retraction of a buyers legally
binding bid are considered to be invalid. Invalid
reasons for retraction include but are not limited
to the following:
-
You
change your mind about the item
-
You
decide you can't really afford it
-
You
bid a little higher than you promised yourself
you'd go
Bid
Retractions are also governed by the "12 Hour Rule"
which has the following parts:
-
A
bid placed early in the auction may not be retracted
in the last 12 hours of an auction. You may place
a retraction before the last 12 hours of an auction.
When you retract a bid prior to the last 12 hours
of an auction - ALL your previous bids on that
auction will be retracted.
-
If
you place a bid within the last 12 hours of an
auction listing you may retract your bid, ONLY
if you do so within one hour of placing your bid.
When retracting during the last 12 hours of an
auction - only your last bid is retracted, all
previous bids remain in place, and you are responsible
for them for the total amount bid.
If
you have been patient enough to read this far, and
still feel you must retract your bid, after considering
all the information above - you may click
here for the eBay retraction page
- the link for retracting your bid is somewhere in
the middle of the page, you'll have to read through
the page to find it.
Sir
Snipes Tip: - Before placing any bid - determine
your absolute maximum you are willing to pay, enter
your bid carefully - paying close attention to the
decimal point placement, and review the confirm bid
page carefully checking for errors, before confirming
your bid. |
