There are two ways to cancel bids on eBay. The first is for the seller to cancel a bid made on their auction. The second is for buyers to cancel bids they made on other's auctions. Both come with very specific rules that prohibit any auction misconduct.
Review the reasons allowed for canceling a bid. Go to the cancellation page if the bidder is someone whose identity you have not been able to confirm. You should also access this page if the bidder asks you to cancel the bid, or if the item being auctioned is no longer for sale.
Fill out the cancellation form. Give the reason that the bid is being cancelled.
Use the cancellation feature sparingly, as the cancellation and your reason for cancelling, will be recorded in the bid history.
Use the bid retraction form to cancel a bid you have made. Make sure your bid meets the criteria for a retraction. Retract if the bid price you entered was wrong, and then correct the bid amount.
Retract your bid if the auction description was changed and you no longer want the item as it is now described. Use the retraction form if you need the reach the seller for some reason and their contact information is invalid.
Retract your bid that was made before the final 12 hours of the auction, as the option will not be available after that time. Retract bids made during the last 12 hours, only within an hour of the bid.
Use the retraction feature as rarely as possible, as the number of times you have retracted a bid will appear on your feedback numbers.