Ina Steiner EcommerceBytes Blog
News and insight focusing on ecommerce.
by Ina Steiner, Editor of EcommerceBytes.com
Tue June 1 2021 21:50:58

New eBay Bid Retraction Policy. Does It Have Teeth?

By: Ina Steiner

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eBay is changing its bid retraction policy for auctions - in one category, only - and sellers are anticipating what kind of impact it will have. 

eBay sent an email to sellers in trading cards on Tuesday, writing in part:

"Starting June 30, 2021, buyers will no longer have the ability to retract bids on Trading Cards auctions without the seller's approval. Sellers may accept or reject auction bid retraction requests at their sole discretion, however, we encourage sellers to use their best judgment and give buyers the benefit of the doubt."

There has been extreme demand for trading cards on and off eBay (you may have read about fights breaking out among customers at retail store Target, which decided to temporarily suspend the sale of MLB, NFL, NBA and Pokemon trading cards within its stores effective May 14.) 

The volatility in prices has resulted in buyers returning trading cards for a refund when the value of their card declines, and apparently is also causing them to retract bids even before auctions have ended.

eBay told sellers in Tuesday's letter, "We expect the change will significantly reduce the percentage of auction bids retracted by buyers."

People discussed the issue on Reddit. One person said, "I just assumed that with the TCG market being so volatile right now, that this was to protect sellers from buyers retracting bids the moment there's a price fluctuation."

Another wrote, "Interesting, let’s see how this works out. If I were a seller, I'd be hesitant to send something to a buyer that was trying to get out of a sale. It sounds like a recipe for disaster. Unhappy buyers leads to issues."

Gamespot wrote about the new policy and said, "While eBay did not state why this change was being made it seems that the change is aimed at preventing people from making bids to drive up the price of a card and then canceling their bid after the fact."

In its email, eBay explained how the new auction bid retraction policy will work:

"Starting June 30, if a Trading Card buyer wishes to retract an auction bid, they will need to contact the seller via messaging on eBay to request a retraction. The seller will, at their sole discretion, be able to accept or reject the buyer's retraction request. If the seller does not accept the request, the buyer’s auction bid can still win or lose the auction, and they will be accountable for the outcome. As noted at the bottom of the auction listing: "You can only retract your bid under certain circumstances." Buyers are also informed on the 'Retract a Bid' that "a bid is a binding contract.""

Let us know what you think!



Comments (17) | Leave Comment | Permalink

Readers Comments

Perminate Link for New eBay Bid Retraction Policy. Does It Have Teeth?   New eBay Bid Retraction Policy. Does It Have Teeth?

by: shut1968 This user has validated their user name.

Tue Jun 1 23:09:24 2021

No bid retractions period, no requests to cancel the sale period.

Buyers are in need of being forced back into taking responsibility for their own actions (purchases)

Perminate Link for New eBay Bid Retraction Policy. Does It Have Teeth?   New eBay Bid Retraction Policy. Does It Have Teeth?

by: plcombs This user has validated their user name.

Wed Jun 2 04:46:10 2021

Allowing Retractions beyond an obvious bid mistake, will only further increase volatility in the price action. eBay is making it worse...

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by: pace306 This user has validated their user name.

Wed Jun 2 08:22:53 2021

Its a good first step - but its still lacking ....

If you decline a buyers bid retraction and then he wins - you ship the item - you will just get a SNAD and a negative feedback - so what did it accomplish?

eBay has no "no returns" policy - all this does is PRETEND that the seller has control - when they dont .....

Another eBay LIE .......

Perminate Link for New eBay Bid Retraction Policy. Does It Have Teeth?   New eBay Bid Retraction Policy. Does It Have Teeth?

by: VaGent This user has validated their user name.

Wed Jun 2 09:44:57 2021

"No bid retractions period, no requests to cancel the sale period."

Its never a good idea to try to force a buyer to pay for a sale they want to cancel.
That will never, ever, end well for a seller. If a buyer asks to cancel, be grateful and grant it or you may experience a true trainwreck.

Perminate Link for New eBay Bid Retraction Policy. Does It Have Teeth?   New eBay Bid Retraction Policy. Does It Have Teeth?

by: 4yourinfo This user has validated their user name.

Wed Jun 2 12:22:18 2021

If a buyer requests a cancellation it should be deemed as if they opened a case and if the retraction is denied it should be considered like they lost the case and no negative feedback should be allowed - it should be automatic too - no reason to have to request removal of such feedback like I had to do the other day with the gsp because eBay decided to restrict an item that was in the right category...

Perminate Link for New eBay Bid Retraction Policy. Does It Have Teeth?   New eBay Bid Retraction Policy. Does It Have Teeth?

by: Snapped This user has validated their user name.

Wed Jun 2 19:49:46 2021

Buyers are already required to confirm their bid input prior to it being applied. That is the time for a ‘retraction’. Your bid is your bond. Keep your word.

eBay’s flaw in facilitating online auctions has always been a lack of buyer accountability, despite published policy, despite lip service ‘blocking and reporting and “strikes” nonsense. There has never been a desire really to hold bidders accountable. Wouldn’t want a decline in ‘members’ you see....

This big announcement meanwhile, says more about eBay’s latest vertical cash rake focus than it does to anything relating to the real need to (still) ensure good faith auctioneering. Why just trading cards? Every auction listing needs buyer accountability, if that is truly a thing all of a sudden.

Not that it will better ensure anything in the end though. A placebo dose control button isn’t even an effective symptom treatment here much less a cure for this cancer.

Perminate Link for New eBay Bid Retraction Policy. Does It Have Teeth?   New eBay Bid Retraction Policy. Does It Have Teeth?

by: zeek6228 This user has validated their user name.

Wed Jun 2 21:34:06 2021

Bid retractions with more than 12 hours remaining are fine. But if you list an expensive item at 99c starting bid (an iPhone for example), someone can bid with 2 accounts $999 and $990 with auction at $22. Auction will sit at $995. Then with one second left retract one of the bids and the auction will end at $22.50.

When you contact eBay, customer service will not understand what you are talking about. Only solution is cancel "something wrong with buyer address" and eat the negative feedback.  

Perminate Link for New eBay Bid Retraction Policy. Does It Have Teeth?   New eBay Bid Retraction Policy. Does It Have Teeth?

by: zeek6228 This user has validated their user name.

Wed Jun 2 21:37:06 2021

Whenever you have an auction that seems to be higher than it should, always look at the bid history in an incongnito window and 9 times out of 10 the top or second bidder will have feedback of 10 and 64 bid retractions. Ebay doesn't care.

Perminate Link for New eBay Bid Retraction Policy. Does It Have Teeth?   New eBay Bid Retraction Policy. Does It Have Teeth?

This user has validated their user name. by: Covid-20

Thu Jun 3 01:46:02 2021


𝐖𝐄 𝐀𝐑𝐄 𝐆𝐄𝐓𝐓𝐈𝐍𝐆 𝐎𝐔𝐑 𝐅𝐄𝐄𝐒 𝐎𝐍𝐄 𝐖𝐀𝐘 𝐎𝐑 𝐓𝐇𝐄 𝐎𝐓𝐇𝐄𝐑!!  𝐌𝐀𝐃𝐄 𝐀 𝐌𝐈𝐒𝐓𝐀𝐊𝐄? 𝐓𝐎𝐎 𝐁𝐀𝐃!!  𝐖𝐄 𝐇𝐀𝐕𝐄 𝐘𝐎𝐔𝐑 𝐂𝐇𝐄𝐂𝐊𝐈𝐍𝐆 𝐀𝐂𝐂𝐎𝐔𝐍𝐓 𝐈𝐍𝐅𝐎! 𝐖𝐄'𝐋𝐋 𝐉𝐔𝐒𝐓 𝐓𝐀𝐊𝐄 𝐖𝐇𝐀𝐓 𝐖𝐄 𝐍𝐄𝐄𝐃!  𝐖𝐄 𝐍𝐄𝐄𝐃 𝐎𝐔𝐑 𝐅𝐄𝐄𝐒!!!!!

These jokers just ''suspended'' all my listings for not updating my info!  I feel like I have just been paroled!  Haaaa.  Been a long ride since 1998.  Bluff has been called.  I am QUITE sure there are thousands out there like myself unwilling to give this illiterate mentally deficient company their trusted banking info.  Proven irresponsible gargoyles. It would be like me dropping my wallet in one of San Francisco's homeless encampments upon the sidewalks. NO Thanks.

Hey Ebay - you have been trying to be Amazon since 2008 and have never been incrementally close by any margin imaginable.  Death will be slow, but it's happening . . . . . You'll be located in the cemetery plot directly next to '𝑴𝒚𝑺𝒑𝒂𝒄𝒆'.

Perminate Link for New eBay Bid Retraction Policy. Does It Have Teeth?   New eBay Bid Retraction Policy. Does It Have Teeth?

by: gimac This user has validated their user name.

Thu Jun 3 04:55:07 2021

What if seller changes/adds to his discription AFTER he has received bids ??

rly THAT give a buyer to retract his bids ??

Perminate Link for New eBay Bid Retraction Policy. Does It Have Teeth?   New eBay Bid Retraction Policy. Does It Have Teeth?

by: Jono77 This user has validated their user name.

Thu Jun 3 06:35:15 2021

If sellers do not allow bidders to cancel they are technically forcing the bidder to pay for an item they don't want.

Yes it's annoying but the consequences of forcing a sale on someone who doesn't want to purchase is not worth the outcome. It's not going to go well when they  leave feedback.

I find it less hassle to just sell to the underbidder and keep things as simple as possible.

Perminate Link for New eBay Bid Retraction Policy. Does It Have Teeth?   New eBay Bid Retraction Policy. Does It Have Teeth?

by: Chicago48 This user has validated their user name.

Thu Jun 3 06:50:38 2021

This is similar to AMZ.  I don't see the problem.  You want to retract the bid and need the seller's approval.  What's wrong with that?

Perminate Link for New eBay Bid Retraction Policy. Does It Have Teeth?   New eBay Bid Retraction Policy. Does It Have Teeth?

This user has validated their user name. by: Bidonmine

Thu Jun 3 08:42:54 2021

If you don't accept a buyers bid retraction and then the person wins; you ship the item, you will get a SNAD or return request and a negative feedback... OR, they don't pay and you have to wait for the entire non-payment cycle to complete before you can put the item back up for sale. I never want an unhappy buyer buying my item...

Perminate Link for New eBay Bid Retraction Policy. Does It Have Teeth?   New eBay Bid Retraction Policy. Does It Have Teeth?

by: Disgruntled_Seller This user has validated their user name.

Thu Jun 3 10:00:19 2021

Buyer doesn't get their cancel request accepted, no pay, no play, just more grief for the seller. No real grief for the buyer. Just suck it up and cancel it like it should be done.  

Perminate Link for New eBay Bid Retraction Policy. Does It Have Teeth?   New eBay Bid Retraction Policy. Does It Have Teeth?

This user has validated their user name. by: Covid-20

Thu Jun 3 10:47:42 2021

@Chicago48
HAA!   If it is so similar to AMAZON, Don't you think this is WHY Ebay wants to implement it??
Always the follower, NEVER the leader or an innovator.  

Ebay is the odd drooling kid new to the classroom bussed in from another part of the state.  

Perminate Link for New eBay Bid Retraction Policy. Does It Have Teeth?   New eBay Bid Retraction Policy. Does It Have Teeth?

by: I Must be Crazy This user has validated their user name.

Thu Jun 3 12:09:23 2021

''This is similar to AMZ.  I don't see the problem.  You want to retract the bid and need the seller's approval.  What's wrong with that? ''

Despite the reality that eBay wants to emulate everything that is Amazon, this is not similar to Amazon, as Amazon does not do auctions.

It is one thing to cancel a purchase on a sack of pencils that you don't need. Quite another on an auction of a rare trading card or one of a kind item.

This is more about eBay's focus on the latest ''rake'' of another category lost disguised as ''vertical strategy'' blah, blah, blah. In reality, eBay got what they asked for; a bunch of takers to their latest scheme and they aren't equipped to deal with the problems that come as a result.

Ebay has never been very good at enforcing buyer compliance, no matter the format. These auctions should be just like live auctions, winning bidder doesn't perform, there is a second bidder one can offer the item to. If not, it goes up for auction again. (And fees are waived) The nonperforming bidder is then BANNED from bidding at future auctions by that auctioneer.  

Perminate Link for New eBay Bid Retraction Policy. Does It Have Teeth?   New eBay Bid Retraction Policy. Does It Have Teeth?

This user has validated their user name. by: epuise

Thu Jun 3 18:58:34 2021

What about...
eBay CHARGES the BUYER a 10% retraction FEE ?
The 10% fee goes to SELLER, and is then subject to a 10% FVF.
Buyers who don't pay the 10%, get suspended.
End of problem.



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