CAN I BACK OUT OF AN AUCTION BID? BID RETRACTION GUIDE

"Please support us by giving a positive vote to our
guides..."Sometimes you'll bid on an item only to see it for sale in the
Sunday paper at a lower price than your bid, or only to realize that you've
already spent your grocery money for the month. In such cases, is it okay to
back out?
A. No. Just as would be the case in a "live" auction, eBay auction bids
are considered legal and binding on both bidder and seller. As a bidder, you
must pay for the item and receive it if you win, and likewise, the seller must
transfer ownerhship of the item to you and deliver it to you once you have paid
for it as a winning bidder. There are three exceptions to this rule, but are
very clear and narrowly defined:
You may back out of a bid if you have accidentally mis-entered your bid. For
example, a bid is not binding if you entered 1000 for an item on which you
intended to bid only 10.
You may back out of a bid if after you bid the seller substantially alters
the item's description or specifications in such a way that the value of the
item is significantly altered.

You may back out of a bid if after you bid a seller who you were
previously able to contact can no longer be contacted or no longer responds to
your inquiries between the time of the bid and auction close.

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