How to cancel bid on eBay: It's possible, what you need to know – USA TODAY

Can’t find the “cancel bid button” on the item listing page? That’s because it doesn’t exist. It might seem like it isn’t possible to retract a bid on eBay, but it is. You just have to make a few extra clicks.
Here is everything you need to know about canceling a bid on eBay.
After you’ve submitted your bid, you won’t see a cancellation option on the product page. To cancel a bid, go to eBay’s customer service page and search “retract a bid.” It should bring up an article entitled “Retracting a bid.”
Here, you can click on the blue button that says “Retract a bid” (or you can just click here) and another page will open.
Items with active bids should be listed on the page. Click on the bid you want to cancel, and a new page should open. Select a reason for canceling. Once your bid is canceled, you should receive confirmation in your email. 
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According to eBay, you’re allowed to retract your bid if the seller changed the item description significantly or if you accidentally bid the wrong amount. 
If more than 12 hours remain in an auction, you can retract all your bids, according to eBay. But if fewer than 12 hours remain, you can only cancel a bid you placed within the last hour, according to eBay.

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