How To Retract Your Bid
From the Ebay item listing, click on the link marked

History: 9 bids (£0.99 starting bid)

Bidders: You can retract your bid under certain circumstances only.

Will This Harm My Feedback Rating?
Although it is not our job to educate and train ebay buyers, (that's what ebay's help system is for), we publish this advice here to clarify our view.
No, retracting a bid will not harm your feedback rating. Most sellers will not even notice, and any reasonable ones would appreciate you correcting your error as soon as possible.
What does happen though, is that a bid retractions line gets added to your feedback page. This simply shows how many bid retractions you have made in the past 6 months. Our guess is that this is to stop people abusing the retraction facility to discover their competitors' bids. If you were to make a habit of frequent cancellations, it would not look good, although we do not know whether or how Ebay monitor your number of retractions. As they disappear from view after six months, it makes no permanent difference to your record.

Don't Try To Shift Your Responsibility
Please do not e-mail or contact us to ask us to retract your bid. you mad the mistake, you should correct it. It is unfair and unreasonable to expect other people to correct your errors for you.
We don't know about other sellers, but it's a full time job for us and our staff just to keep up with processing, packing and shipping items sold. We do not always have the time to respond to all e-mails promptly. If you e-mail us expecting us to correct your error for you there is a danger we may not see your e-mail, or be able to respond to it, in time.
If you fail to retract to bid before the auction ends, you should not be surprised if the seller is unhappy with you, and decides that you because failed to retract your bid before the end of the auction, you deserve negative feedback.

Sellers Can Cancel Bids, But...
We have since learned that sellers can also remove bids, although as explained above, we do not see why sellers should expect other people to have to clean up their mess for them.
Another non-buying bidder recently also asked us to cancel a sale after it had completed. We are always reluctant to do so, for a number of reasons.
Firstly it should be the sellers responsibility to ascertain what the is bidding on, the amount of his bid, what currency he is bidding in, and all other aspects of his bidding.
Secondly it is always possible for the buyer to correct his own mistake by retracting his bid providing he notices his error before the auction ends.
Thirdly, it has deprived us of a sale.
Fourthly it has deprived the underbidders their chance of making a purchase, and wasted their time. They may have wanted the item before a particular date, perhaps as a gift. For whatever reason, many bidders do not return to bid on a repeat item.
Fifthly, Ebay do not like sales to be cancelled, as they lose commission. Some dishonest buyers and sellers get together privately to complete the deal without Ebay's knowledge and participation. This behaviour is probably fraudulent and illegal, it is certainly unethical. Any sellers, and buyers, who repeatedly agreed to cancel sale may come under suspicion by Ebay of avoiding paying their commissions. Please do not ask to to participate in any actions or behaviour which may risk placing us under such suspicion.

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