The Cancel Bid(s) feature will be used with the Bidder or the Store Seller who wishes to delete particular Highest Bid place by a bidder on a LOT in an Auction.
Once the Cancel Bid is done, the previously placed Bid will become the Highest Bid and that Bidder will be Winning that LOT.
Scenario 1: Bidder
The bidder will be able to cancel his bid from the user dashboard as shown in the below scenario. Bidder has placed a Bid for 2$ and is winning the LOT.
Now if she/he wishes to retract the placed bid (ie Cancel Bid),
they can go to the user dashboard My Auctions Active LOTS and view the Bid Amount that has been placed by the bidder.
In case that this is the Highest Bid for that LOT, then the option for cancelling that bid will be provided there in the form of a “Retract” button.
Clicking on this button will cancel the Bid for good from the Auction Site database and this user will no longer be the highest bidder for that LOT until or unless he places another highest bid again.
Screenshot of the Bid placed and Cancel Bid option when the bidder is winning the LOT.
Clicking on the Retract button will ask for confirmation as shown below.
Once the Bid cancel / retract is done successfully, a notification will appear in the screen and the user dashboard will be updated as shown in the below screenshot.
Scenario 2: Store Seller
Login as administrator or store seller in the Admin/Store Seller account of the auction website.
Select the Auction and view the sub-lots to choose the LOT for which the highest bid needs to be cancelled as shown in the screenshot below.
Below is the screenshot for cancelling a bid during an ongoing Live Auction.
Scenario 3: Cancel Bid in case of Proxy Bidding
In the case of proxy bidding where there are three bids & say the bid increment is $25
Person A: $300 (Highest Bidder & current high bid is 225)
Person B: $200
Person C: $100
Current High Bid: $225 , Person A as high bidder.
What happens when you delete Person A’s $300 bid?
When $300 is Cancelled or Retracted, Person B will become the Highest Bidder now and since the previously Highest Bidder was Person C with $100,
the proxy bid of Person B will come into place and now the highest bid amount will be $125 and Person B will show as “You are Winning”.