on 04-06-2013 10:35 PM
No and NO. Your bid is binding and you cannot cancel it.
According to ebay:
"…..you can't retract, remove, or cancel a bid. When you place a bid, you agree to pay for the item if you're the winning bidder.
A bid on eBay is considered a contract, and you're obligated to purchase the item. Many of the items on eBay are sold in an auction-style format where you can make bids. Bidding is a lot of fun, but remember that each bid you make is a binding contract to buy the item if you win."
If you have a legitimate reason for needing your bid to be cancelled, you can contact the seller, explain the reason why you have to have your bid cancelled. However, they are not obligated to cancel your bid. If they don't, then you MUST pay for the item if you win.
You bid, you win, you pay.