Scenario: Bid Retraction & Bid Retraction Limit enabled
Buyer1 posted a bid in the amount of £26,00.
Buyer2 outbid Buyer1 with a bid in the amount of £31,00.
Note: Proxy Bidding is also enabled.
At this point, Buyer2 has two options:
- Wait for the Auction to end (participate in a bidding war)
- Retract Bid (Home -> Members Area -> Buying -> Current Bids)
Click Retract Bid and see the following message:
The final screen will display a message confirming the retraction of the bid:
The auction continues with Buyer1 being the highest bidder
Note: At this point Buyer1 can also retract the bid.