What's happening
Bids placed on HiBid are binding, but bidders do sometimes ask to retract one — a typo, a misread lot, or buyer's remorse before the auction closes. Whether to allow it is your call as the auctioneer, guided by your own terms and conditions. HiBid does not retract bids on a bidder's behalf.
What to check first
Your terms. What do your auction terms say about bid retraction? Your answer to the bidder should match what they agreed to at registration.
Timing. A retraction request before the lot closes is very different from one after the auction ends. Before close, you can remove the bid and let bidding continue. After close, you're deciding whether to pull the lot from their invoice and pass it to the backup bidder or re-offer it.
The bid itself. Look at the amount — an obvious typo (a $1,000 bid on a $10 lot) is worth handling differently than a change of heart.
What to tell your bidder
Bids on HiBid are binding, and retraction is at the auction company's discretion — HiBid support will refer them back to you.
If you allow the retraction, confirm it in writing (email works) so there's no dispute at invoicing time.
If you decline it, point to the terms they agreed to at registration and explain how the invoice will be handled.
Remind them that unpaid invoices from retracted-then-unhonored bids can affect their bidder score and future approvals.
When to contact support — and what we check
If you've decided to remove a bid and can't accomplish it from your bid management screens — or the auction has already closed and results have been downloaded — contact us with the auction number, lot number, and bidder, and we'll help you correct the records so your clerking and invoices come out right.