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Retracted bids
I was outbid by a private listing buyer who I later found out had a $45.00 maximum bid. With less than two minutes left the bidder retracted their bid, which made me the winner. The bidder also didn't give a reason for the retraction which e-bay requires. In addition I believe private listings lead to more scams. E-bay's regular listings are already private.
There are three reasons I can think of for retractions:
1. a mistake by the buyer such as putting the decimal point in the wrong place, bidding on the wrong item, etc.
2. a buyer is trying to dissuade other buyers from bidding by putting up a very high bid they never intend to pay.
3. a bidder is working with the seller to set a minimum selling price or to raise the price when legitimate buyers try to outbid the very high bid.
Let me know your views on this.
Thanks, Bob
