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How To Retract Your Bid In Online Auction

It never fails, every auction, every time. Someone emails or calls with an excuse that their cat bid accidentally.

If not their cat, perhaps they didn’t realize the terms & conditions said “No Shipping” in huge blinking letters and they live 500 miles away.

Or perhaps the last most com- mon excuse is that they have to attend a funeral during the pick-up time.

If you find yourself in a situation where you have made a mistake, call the auction company immediately or send an email. We get It, sometimes you accidentally typed too many zeros and $10.00 becomes $10,000

In some auctions, the bid can be retracted or the auctioneer can determine an alternate date to pick up the items. Don’t wait until the auction is over. This damages the seller and your online reputation.

Most platforms allow for feedback for non-performing bidders and in some cases can get a buyer permanently banned from bidding online ever again. We understand mistakes can hap- pen, but when an “accident” is a cover-up for buyer’s remorse patience and understanding are not usually extended.

Don’t rush through the online catalog, placing bids flippantly.

Make sure you understand the lot you are bidding on and the price you are paying. Bidding online is fun, but it is NOT a Game. By registering to bid you are agreeing to the terms and con- ditions. Failure to perform can be costly for a buyer.

While it might not seem like a big deal, some auctions have strict deadlines for vacating a building after a business is closed or some other circumstances that can cost the seller thousands of dollars when a buyer does not perform.

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